The Central Bank of Nigeria on February 5, 2021, released a statement signed by the Director of Banking Supervision Bello Hassan and the Director of Payments System Management Department Musa I. Jomoh, prohibiting financial institutions in Nigeria from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchange.

Meaning all trading of cryptocurrency in Nigeria has been banned, as all Deposit Money Banks, Non-Bank Financial Institutions and Other Financial Institutions have been directed to identify persons and/or entities transacting in or operating cryptocurrency exchange within their systems and ensure that such accounts are closed immediately. The statement added that “breaches of this directive will attract severe regulatory sanctions.”

The use of bitcoins and cryptocurrencies in Nigeria skyrocketed in 2020, especially during the #EndSARS protests when bank accounts of activists like the Feminist Coalition were blocked and other payment platforms for freelancers were banned. This made the disbursement of funds difficult, therefore leading many youths to rely on the use of bitcoins and cryptocurrencies.

Although the reason for this ban is still unknown, Nigerians have taken to social media to express their disapproval with the #WeWantOurCryptoBack as trading of cryptocurrency is a means of livelihood for many young people.

Source : Opera News

These guys have no idea of how to run a government

Next time vote a dullard

Useless government baboon become headmaster.

.....will you still close their foreign accounts, you people are just confused jealous set of dullard

Ok

That's what happens when you vote in Nama to be ur president.

Govt where namas are holding huge positions they know next to nothing about.

What do yu expect wen an illiterate is running a country of over 200mill ppl?

Mannequin bubu and all his Fulani kinsmen in top positions can't even read correctly, u now expect them to know what crypto is?

They myt even b doing this bcoz of ESN or jus to strangulate Southerners with hunger so we would have no option but to kip quiet and be enslaved completely.

Also they know it will not affect their fulani pple cos dey hav no biz with crypto

Next tym...vote Fulani man again as ur president..