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Jubiliation In Nigeria As CBN Makes A Sharp U-Turn, Gives Go Ahead For Cryptocurrency Trading, Others

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The Central Bank of Nigeria (CBN) said there was no time the bank banned the activities of Cryptocurrencies in the country.

The Governor of the bank, Godwin Emefiele, disclosed this in Abuja at the 30th seminar for Finance Correspondents and Business Editors organised by the bank.

Emefiele, who was represented by Adamu Lamtek, Deputy Governor, Corporates Services, said what the bank did was to protect the banking sector from the activities of Cryptocurrencies and not a ban on its activities.

The CBN did not place restrictions from use of Cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on Cryptocurrencies in the banking sector.

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