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WHAT DO YOU THINK? CBN Bans Crypto-Currency Trading In Nigeria

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The Centeral Bank of Nigeria CBN Bans Crypro-currency in Nigeria and order banks to close all crypto-currency treders account.CBN Bans Crytpto-currency

The Central Bank of Nigeria has made a shocking move by putting bans on all trending of crypto-currency in the country.

According to the content in a circular sent by Director Of Banking Supervision, Mr Bello Hassan to all Commercial Banks and Non-Banking Financial Institution. The Central Bank of Nigeria noted that there are many risk involves in transactions of cryto-currency.

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Meanwhile, the Central Bank of Nigeria had decleared and warned that dealing in crypto-currency or facilitating any payments for crypto-currency trading is now prohibited by law in Nigeria.

However, all Nigerian Banks have been ordered to check their system and identity the accounts of people who have transacted crypto-currency in the past, while the CBN order the Banks to close such account with immediate effect.

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See the circular below (CBN bans Crypto-currency i Nigeria)CBN Bans Crypto-Currency

What do you think about this new CBN policy ?

Do you think Banning Crypto-Currency will be helpful in anyway ?

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