CBN shuts down cryptocurrency exchange bank accounts

0
Cryptocurrency

The Central Bank of Nigeria (CBN) has sent out a directive shutting down cryptocurrency exchange bank accounts, according to multiple online reports.

According to a letter shared by social media users, the CBN earlier today urged banks to identify and close the bank account of people trading in cryptocurrency.

READ MORE!! VIDEO: Angry fans blast Falz for sharing Bobrisky’s video

The letter read;

“February 5, 2021

LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS AND OTHER FINANCIAL INSTITUTIONS

The Central of Bank of Nigeria’s (CBN) circular of January 12, 2017 ref FPR/DIR/GEN/C1R,06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the pubic so the risk associated with transactions In crypto currency refers.

Father to earlier regulatory directives on the subject, the Bank hereby wishes to remind regulated institutions that dealing in crypto curencies or facilitating payments for cryptocurrency exchanges is prohibited. Accordingly, all DMBs.

NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating crypto currency exchanges within tier systemsand ensure that such accounts are closed immediately. Please note that breaches of this directive will attract severe regulatory sanctions. This letter is with immediate effect.”

READ ALSO!! If you can’t afford to get your girl iPhone 12 or bone straight, let her go – Rapper Eriga

 

For publication of your news content, articles, videos, or any other newsworthy materials, please send it to shakarasquare@gmail.com. For more enquiry, please call +234 703 951 4950 or WhatsApp. To place an advert, please call +234-803-669-9610