Bitcoin
$48,633.77+2.32%
Ethereum
$3,524.06+1.91%
XRP
$1.09+2.41%
Cardano
$2.42+1.79%
Polkadot
$35.31+2.50%
Stellar
$0.326294+1.64%
Dogecoin
$0.245050+1.34%
Chainlink
$29.34+3.27%
Uniswap
$25.02+0.78%
Polygon
$1.40+5.97%
Litecoin
$183.55+0.98%
Bitcoin Cash
$636.12+1.74%
Algorand
$1.98-0.12%
Wrapped Bitcoin
$48,654.37+2.34%
Cosmos
$36.58+7.37%
Filecoin
$85.39+4.71%
The Graph
$0.845569+2.90%
Tron
$0.107603-2.50%
Ethereum Classic
$57.98+1.76%
Aave
$366.87+0.86%
Tezos
$6.35+1.33%
EOS
$5.27+2.59%
NEO
$50.09+1.88%
Monero
$268.58+2.68%
IOTA
$1.67+10.18%
BitTorrent
$0.003996+1.49%
Bitcoin SV
$158.45+0.91%
Waves
$29.59+0.99%
Maker
$2,896.72+2.70%
Dash
$204.97+2.49%
Decred
$148.08+0.54%
Decentraland
$0.833413+2.10%
ICON
$1.96+3.91%
NEM
$0.185926+1.97%
Zcash
$141.08+4.53%
Qtum
$12.72+2.12%
NuCypher
$0.333620+0.96%
Bitcoin Gold
$67.49+2.59%
Yearn Finance
$34,377.12+2.32%
OmiseGO
$8.77+5.86%
Basic Attention Token
$0.770000+2.09%
0x
$1.12+3.75%
Paxos Standard
$0.990637-0.95%
Ren
$1.03+7.53%
Fetch.ai
$0.866886-0.14%
Bancor
$4.17+2.20%
Band Protocol
$9.42+1.95%
Siacoin
$0.019162+4.25%
Kava.io
$6.30+2.51%
Nano
$5.59+2.65%
Loopring
$0.464280+2.03%
Storj
$1.41+2.32%
Numeraire
$49.64+15.11%
Civic
$0.541937-0.16%
Lisk
$3.62+1.97%
Orchid
$0.369072+0.99%
PAX Gold
$1,764.10-0.34%
Augur
$26.39+1.97%
Aragon
$6.10+5.51%
Enzyme
$118.28+4.88%
district0x
$0.179572+2.04%
Kyber Network
$1.85+0.32%
SingularDTV
$0.001400+8.57%
Tether
$1.00-0.01%
USD Coin
$1.00-0.02%
Dai
$1.00+0.01%

Nigeria's Central Bank Orders Banks to Close Accounts of All Crypto Users

Any breaches of the order would face "severe regulatory sanctions," the central bank warned.

Feb 5, 2021 at 2:52 p.m. UTC
Updated Sep 14, 2021 at 12:07 p.m. UTC

The Central Bank of Nigeria (CBN) has ordered all banks to close any accounts transacting with cryptocurrencies.

  • The CBN said it was reminding regulated banking institutions that "dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited."
  • As such, all banks should "identify persons and/or entities" transacting with cryptocurrency or operating crypto exchanges on their platforms and "ensure that such accounts are closed immediately."
  • Any breaches of the order would face "severe regulatory sanctions," the order states.
  • The CBN letter is signed by Bello Hassan, Director of Banking Supervision, and dated Feb. 5.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...