CBN BANS CRYPTOCURRENCY (BITCOIN)

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CBN BANS CRYPTOCURRENCY (BITCOIN)


BY: ORIH MICHAEL CHINAEMEREM


The CENTRAL BANK OF NIGERIA has ordered banks and other financial institutions to close accounts of customers that is being used in the trading of cryptocurrencies.


In a circular circulating on social media on Friday,  the Central Bank of Nigeria ordered  banks, non-bank financial institutions and other financial institutions to “identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately. “



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