The Central Bank of Nigeria (CBN) on Friday banned Nigerians from trading in bitcoins and other crypto currencies.
The CBN ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions.
In a circular seen by Hitvibz after circulating on social media on Friday afternoon, the Nigerian bank regulator ordered deposit money banks, non-bank financial institutions and other financial institutions to “identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”
After most young people have been investing in the cryptocurrency world, buying and selling bitcoin and making profit for themselves, CBN have decided to put an end to it.
This act by the Central Bank of Nigeria has raised a lot of dust on social media, as many Nigerians took to their various account to lament and criticize, CBN and Mr. President.