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Home Cryptocurrency

CBN Closes Accounts of Two Individuals and a Company

Rate Captain by Rate Captain
November 8, 2021
in Cryptocurrency, News
Reading Time: 1 min read
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Nigeria’s central bank ordered the nation’s commercial lenders to close the accounts of two individuals and a company for allegedly trading cryptocurrencies, according to a memo dated Nov. 3.

The accounts are to be closed “for engaging in cryptocurrency trading in contravention of CBN circular” dated Feb. 5, according to the memo, which the regulator confirmed. All funds in the affected customers accounts are now to be placed in “suspense accounts”

The Central Bank of Nigeria on Feb. 5 asked commercial banks not to transact with cryptocurrency exchanges and ordered digital currency traders to shutdown accounts.

 

 

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