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CBN Deputy Governor Denies Restriction on Crypto

Published 03/22/2021, 09:32 AM
Updated 03/22/2021, 10:00 AM
CBN Deputy Governor Denies Restriction on Crypto

  • Central Bank of Nigeria deputy governor denies banning cryptocurrency.
  • Moreover, major crypto stakeholders request a hearing to discuss crypto regulations issues.

According to TodayNG, the Central Bank of Nigeria (CBN) did not ban Nigerian residents from buying, trading, or selling crypto. Deputy Governor of CBN, Adamu Lamtek, affirmed at the 30th seminar for the Finance Correspondents and Business Editors.

“The CBN did not place restrictions from the use of cryptocurrencies, and we are not discouraging people from trading in it,” said Emefiele. “What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.”

The news follows last month’s CBN announcement in a circular that it had banned all regulated financial firms from providing services to

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