The central bank of Nigeria has restricted commercial banks from providing account services to crypto exchanges.
The CBN said this on Friday through a circular.
According to the central bank’s notice, the decision is an extension of earlier warnings from the bank about the risks associated with digital currencies.
The CBN has also directed all commercial banks to close accounts belonging to crypto exchanges and other businesses transacting in crypto currencies in the country warning that there will be penalties for any bank or financial institution that fails to comply with the directive.
GLOBETELLY 