2021-02-05 | BSD/DIR/PUB/LAB/014/001

Letter to All Deposit Money Banks, Non-Financial Financial Institutions and Other Financial Institutions

The Central Bank of Nigeria (CBN) issued a reminder to financial institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited. The CBN directed these institutions to identify and close any accounts associated with cryptocurrency transactions or operations. Breaches of this directive will result in regulatory sanctions.

Nigeria

Central Bank of Nigeria

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