The Central Bank of Nigeria (CBN), has said that the restriction on cryptocurrency transactions, is to ensure accountability.
Osita Nwanisobi, Acting Director, Corporate Communications, disclosed this in a statement on Sunday.
He said the Apex bank did not place any new restriction on cryptocurrencies, as banks in the country had earlier been forbidden, to engage in such transactions.
“As regards our recent policy pronouncement, it is important to clarify that the CBN circular of February 5, 2021, did not place any new restrictions on cryptocurrencies.
“All banks in the country had earlier been forbidden, through CBN’s circular dated January 12, 2017, not to use, hold, trade and/or transact in cryptocurrencies.
He said the directive by the CBN is not out of place as many countries of the world have placed restrictions on institutions operating cryptocurrency.
