The Central Bank of Nigeria (CBN) has issued a directive to all banks to close accounts of anyone who transacts in cryptocurrency.
The order was contained in a letter signed on Friday by the Director of Banking Supervision, Bello Hassan.
“Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited.
“Accordingly, all DMBs, NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”
The apex bank noted that disobedience to the directive will attract severe sanctions.