CBN ban cryptocurrency trading in Nigeria | Directed all banks to close account of such

The central bank of Nigeria have finally banned buying and selling and other useful transactions of cryptocurrency in Nigeria

The Apex bank made this know today Friday February 5th through a statement signed by the director of bank supervision, Bello Hassan and director of payment system management department, Musa Jimoh which directed all deposit money banks (DMBs) and other bank should start closing all accounts of people who are using their service for cryptocurrency trading adding that failure to adhere to the directive will attract severe sanctions

The statement read as:

It’s clearly known that the apex bank is not at all a fan of cryptocurrency as it also issue a circular statement in 2018 giving warning to all people investing their money into the digital currency adding that

cryptocurrency is a digital and virtual currency that increase in value (appreciate) and and also decrease in value (depreciate) at any time depend on the whim of the market force

Many young Nigeria make their daily bread from trading these currencies also many wealthy people in this country own asset in it as it is not regulated by any government in the world

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