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Nigeria’s Central Bank: We Didn’t Ban Crypto Trading

Amy Liu

Summary: The central bank of Nigeria (CBN) has clarified a statement it issued last month that seemed to order financial institutions to shut down all accounts associated with cryptocurrency trading. According to a report on Sunday, bank officials have said the directive is not to be mistaken for an outright ban. Instead, the bank said it ...

The central bank of Nigeria (CBN) has clarified a statement it issued last month that seemed to order financial institutions to shut down all accounts associated with cryptocurrency trading.

According to a report on Sunday, bank officials have said the directive is not to be mistaken for an outright ban. Instead, the bank said it has reiterated an already imposed 2017 ban on institutions facilitating cryptocurrency transactions.

Speaking on behalf of the bank’s chief, Godwin Emefiele, Deputy Governor Adamu Lamtek said the bank had never banned cryptocurrency activity in the country.

By Amy Liu

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