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Nigeria's central bank not discouraging people from trading crypto, says governor

Published 03/21/2021, 02:44 PM
Updated 03/22/2021, 04:40 PM
Nigeria's central bank not discouraging people from trading crypto, says governor

Godwin Emefiele, governor of the Central Bank of Nigeria, or CBN — which previously banned banks from servicing crypto exchanges — has reportedly clarified the bank’s position on the use of cryptocurrencies in the country.

According to local news outlet TodayNG, CBN deputy governor Adamu Lamtek said on behalf of Emefiele that the bank had not banned Nigerian residents from buying, trading or selling crypto, but “[protected] the banking sector from the activities of cryptocurrencies.” Lamtek spoke at a seminar for finance correspondents and business editors in the capital, Abuja.

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