Nigeria: Central Bank of Nigeria circular ordering banks to close operating accounts related to cryptocurrency trading
Progress
Current status
adopted
05 Feb 2021 adopted
Scope
Implementers
Nigeria
Policy Area
Authorisation, registration and licensing
Policy Instrument
Prohibition of goods and services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
other service provider
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Central Bank of Nigeria adopted Circular ref. BSD/DIR/PUB/LAB/014/001 on ordering banks to close operating accounts related to cryptocurrency trading
On 5 February 2021, the Central Bank of Nigeria (CBN) issued the Circular ref. BSD/DIR/PUB/LAB/014/001 ordering all all Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), and Other Financial Institutions (OFIs) to close accounts of…
Event type
order
Action type
adoption
Government branch
executive
Government body
central bank