{"id":10501,"date":"2023-12-23T20:01:00","date_gmt":"2023-12-23T19:01:00","guid":{"rendered":"https:\/\/ebirareporters.com\/?p=10501"},"modified":"2023-12-23T20:01:00","modified_gmt":"2023-12-23T19:01:00","slug":"nigeria-lifts-ban-on-cryptocurrency","status":"publish","type":"post","link":"https:\/\/ebirareporters.com\/nigeria-lifts-ban-on-cryptocurrency\/","title":{"rendered":"Nigeria Lifts Ban on Cryptocurrency"},"content":{"rendered":"
The Central Bank of Nigeria (CBN) has lifted the two-year old ban it placed on cryptocurrency transactions in the banking system.<\/p>\n
<\/p>\n
The Nigeria’s apex bank announced the decision to reverse the policy in a circular by the Director of Financial Policy and Regulation, Haruna Mustapha.<\/p>\n
Mustapha said the CBN would now provide regulations for financial institutions on how to manage and avoid misuse of cryptocurrency in the country.<\/p>\n
The bank had in 2021 restricted banks and other financial institutions from operating accounts for cryptocurrency providers.<\/p>\n
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