Nigeria penalises two individuals, firm for trading Crypto


Nigeria’s central bank ordered the nation’s commercial lenders to close the accounts of two individuals and a company for allegedly trading cryptocurrencies, according to a memo dated November 3.

The accounts are to be closed “for engaging in cryptocurrency trading in contravention of CBN circular” dated February 5, according to the memo, which the regulator confirmed. All funds in the affected customers accounts are now to be placed in “suspense accounts”

The Central Bank of Nigeria on February 5 asked commercial banks not to transact with cryptocurrency exchanges and ordered digital currency traders to shutdown accounts.

Naija247news Media Nigeria
Naija247news Media Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:




More like this

Referee Suspended For Watching Replay On Phone

    An Egyptian referee has been suspended indefinitely after using...

Ozil Announces Retirement From Football

  Former Arsenal midfielder Mesut Ozil announced his retirement from...

Hoodlums set ablaze High Court in Ebonyi.

March 22, 2023. Azonuchechi Chukwu. Hoodlums set ablaze High Court, hours...

CBN Governor Emefiele Apologizes for Online Transaction Failures.

March 22, 2023. Azonuchechi Chukwu. The Governor of the Central Bank...