Tag: Crypto

Why Government must realize that digital currency is the future

By Hammed J. Sulaiman On the 5th of February, 2021, the Central Bank of Nigeria (CBN) issued a circular to all banks and financial institutions. In the circular, the apex bank stated that trading with cryptocurrencies and facilitating payment for cryptocurrency exchanges is now  prohibited. The apex bank  also ordered[Read More…]

Just in: Osinbajo tells CBN to regulate, not ban cryptocurrency

Vice President Yemi Osinbajo has called in the Central Bank of Nigeria, CBN to not ban cryptocurrency and instead seek ways to regulate the technology. Prof. Osinbajo stated this while speaking about the revolution of cryptocurrency at the Bankers Committee Vanguard on Friday. Recall that the CBN had on February[Read More…]

The SEC has suspended all approval of cryptocurrency related products

The Securities and Exchange Commission says it has suspended the approval of cryptocurrency and related products after the Central Bank of Nigeria ordered banks to terminate accounts connected to digital currencies. In a statement on Friday, the SEC said it would no longer do so until such products are able[Read More…]

Nigerians are buying more cryptocurrencies despite CBN ban – Here are their reasons

The Central Bank of Nigeria (CBN) on Friday, February 5, issued a directive to all banks and financial institutions to prohibit the transaction of cryptocurrency and also close bank accounts that trade in cryptocurrency.   News of the ban was met with outrage and confusion as Nigeria is a top three[Read More…]

CBN was right to stop cryptocurrency – Adamu Garba

A former presidential candidate, Adamu Garba has explained that the reason the Central Bank of Nigeria issued a directive to banks and other financial institutions to stop transacting in cryptocurrency is because the cryptocurrency market cannot be regulated. Mr Garba disclosed this when he appeared on a Channels Television programme,[Read More…]

Crypto Ban: CBN should not make hasty policies – Ben Murray-Bruce

Former Senator, Ben Murray-Bruce has reacted to the ban issued to Financial institutions against having any crypto or facilitating payments for crypto exchanges. NewsWireNGR had reported that the Central Bank of Nigeria, CBN, on Friday warned Deposit Money Banks (DMBs), Other Financial Institutions (OFIs), Non-Bank Financial Institutions (NBFIs) and Local[Read More…]