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How CBN banned cryptocurrency in Nigeria

The Central Bank of Nigeria (CBN) has reacted to condemnations trailing the directive to Deposit Money Banks (DMBs) to desist from transacting in cryptocurrencies. In a statement on Sunday, Osita Nwanisobi, Acting Director, Corporate Communications, clarified that the CBN circular of February 5, 2021, did not place any new restrictions on cryptocurrencies. He recalled that all banks in the country …

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