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Nigeria: Central Bank guidelines on operations of bank accounts for virtual assets service providers (circular FPR/DIR/PUB/CIR/002/003)

Progress

Current status
in force
22 Dec 2023 in force

Scope

Implementers
Nigeria
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national

Timeline of events

22 Dec 2023
in force

Central Bank adopted guidelines on operations of bank accounts for virtual assets service providers

On 22 December 2023, the Central Bank of Nigeria (CBN) adopted and implemented Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPs) circular Ref: FPR/DIR/PUB/CIR/002/003, superseding previous restrictions. VASPs mus…

Source
Event type order
Action type implementation
Government branch executive
Government body central bank