The central Bank of Nigeria [CBN] send letter of reminder to all banks to stop dealing in Cryptocurrency or facilitating payment for Cryptocurrency exchange.
CBN as directed banks in the country to close all cryptocurrency-related accounts.
The bank said this in a statement on Friday.
The regulator prohibited all financial institutions from facilitating crypto currency payments in the country.
This directive is contained in a letter addressed to all Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs)and other financial institutions (OFIs) on Friday.
According to the letter, signed by Bello Hassan, director of banking supervision, and Musa Jimoh, director, payments system of management department, the apex bank directed all
DMBs, NBFIs and OFIs to identify persons and entities transacting in, or, operating crypto currency exchanges within their systems to close such accounts immediately.
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