Two weeks ago, the Central Bank of Nigeria (CBN) requested that banks and other financial institutions close the accounts of cryptocurrency exchanges in the country, causing a ruckus.  Its reasons (which have since been countered) were focused on how crypto is used for fraudulent purposes and the anonymity of crypto users.  It’s important to note […]

On the 5th of February, the Central Bank of Nigeria (CBN) sent out a circular to commercial banks reminding them that “dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited” and ordering them to close any accounts transacting with cryptocurrencies. Two days later, the CBN followed up with a statement clarifying their reason […]

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