Nigeria: Central Bank adopted guidelines on operations of bank accounts for virtual assets service providers
Description
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…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank