Nigerians are free to transact on the digital currencies but not through the Nigerian banks
Central Bank of Nigeria has said it never banned trading of Cryptocurrencies in Nigeria, rather what the bank did was restricting the transactions on Cryptocurrencies through Nigerian banks which was aimed at protecting the banking sector from the activities and consequences of bitcoin, others.
Deputy Governor, Corporate Services of the bank, Adamu Lamtek who represented the Governor at the 30th seminar for Finance Correspondents and Business Editors which was organized by CBN in Abuja on 20th March, 2021 said Nigerians are free to transact on the digital currencies but not through the Nigerian banks.
“On the issue of Cryptocurrencies, CBN did not place restrictions from use of Cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on Cryptocurrencies in the banking sector.“ Adamu Lamtek said
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