The Central Bank of Nigeria on Thursday gave directive to stop the trading of Bitcoin, crypto-currency and other digital currency in the country.
In an official statement issued out by CBN sent by Director Of Banking Supervision, Bello Hassan to all Deposit Money Banks, Non-Bank Financial Institutions and Other Financial institution the CBN said there are risk associated with transactions in Bitcoin,and other crypto-currency exchange in Nigeria.
the Central Bank Of Nigeria further stated that dealing in Bitcoin and other crypto-currency or facilitating payments for crypto-currency trading is now prohibited in Nigeria.
The apex bank also gave an order to all commercial banks operating in Nigeria to stop all the accounts of Nigerians who are in one way or the other have facilitated or dealing with crypto,and other digital currency exchanges in the past and present.
However Nigerians have reacted to this development by the apex bank saying it is not the right time and is going to affect most people in the country because a lot have invested in the business.
Sequel to this the commercial banks in Nigeria have been ordered to check their system to identify any Nigerian accounts who have transacted cryto-exchange in the past to block their accounts with immediate effect.
What is your take to the action of CBN over this development to block and ban Nigerians from taking deal in crypto-exchange in Nigeria, is this good or bad
Drop your view in the comment box