Nigeria Central Bank directs banks to close Crypto related accounts

Nigeria Central Bank directs banks to close Crypto-related accounts

The bank bans all Crypto-related accounts The Central Bank of Nigeria has notified Deposit Money Banks, Non-Financial Institutions, other financial institutions against doing business in Crypto and other digital assets. In a circular dated 5th February 2021 and distributed to regulated financial firms, the apex bank of Africa’s largest economy warned and reminded local financial institutions against having any transactions in crypto or facilitating payments for crypto exchanges. In addition, the apex bank instructed the financial institutions to immediately close the accounts of such persons or entities transacting in or…

Read More