CBN bans Nigerians from trading bitcoin and any form of cryptocurrency

The Central Bank of Nigeria(CBN) has announced a total ban on bitcoin trading and other form of cryptocurrency in the country.

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This restriction will now make it illegal to trade cryptocurrency in Nigeria despite being the second trading country in the world.

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The apex bank released a circular prohibiting banks and other financial institutions in the country from carrying out cryptocurrency-related transactions.

The bank also disclosed this on their official Twitter account saying; “CBN prohibits regulated institutions from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges…”

CBN put ban on Nigerians from trading bitcoin
About Fakeye Ahmed Olamide 1267 Articles
Fakeye Ahmed Olamide is a blogger, digital marketer, podcaster and life coach. He is a graduate of Business Education Accounting from Tai Solarin University of Education.

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