₦airaland Forum

The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.

This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa.

The circular titled, ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS).’

The apex bank stated that current trends globally have shown the need for crypto regulation. It said, “The CBN in February 2021 issued a circular restricting banks and other financial institutions from operating accounts for cryptocurrency service providers in view of the money laundering and terrorism financing (ML/TF) risks and vulnerabilities inherent in their operations as well as the absence of regulations and consumer protection measures.
Nlfpmod
This is particularly bullish on crypto
https://www.google.com/amp/s/punchng.com/breaking-cbn-lifts-ban-on-cryptocurrency/%3famp

https://www.youtube.com/watch?v=kxErWtg9sTI