Can New CBN Policies affects Crypto currency trading in Nigeria? Finds out


Recently their was uproar in Nigeria following the directive by the Central Bank of Nigeria to Commercial banks in the country to block any account link to Cryptocurrency.

Many Young’s Nigerians has condemned the policy.

Former vice President, Atiku Abubakar call on the CBN boss to reversed the policy.

Due to the announcement, Binace, one of the leading Cryptocurrency broker in the world suspend deposits of Naira into it account.

According to Binace CEO, client from Nigerians can Withdraw but cannot deposits, and the suspension remain till further notice.

Critical analysis of the order by Omokoshaban revealed that the policy has been their since 2017.

What CBN did, is to reemphasized on the policy.

Off cause, Nigeria financial institutions didn’t support Cryptocurrency exchange so the policy will not affect the trading in Nigeria.

No account link directly to Cryptocurrency in Nigeria.

Nigerians can only deposits money into their e-wallet before it can use to by Cryptocurrency.


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