BITCOIN
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited. In a report by Bloomberg on Wednesday, the […]
Central Bank of Nigeria ,CBN, has justified the ban on cryptocurrencies, saying it fuels illicit financial flow and terrorism. Acting Director, Corporate Communications, CBN, Osita Nwanisobi, in a statement, said the ban on cryptocurrencies would not have any negative impact on Fintechs as there are other robust platforms they can thrive. He said because cryptocurrencies […]
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