- The CBN has denied studies that it has frozen accounts related to unlicensed digital foreign money firms.
- The regulator mentioned it was not answerable for issuing the round.
- “All the time consult with the financial institution’s web site for genuine info,” the CBN mentioned.
The Central Financial institution of Nigeria (CBN) has refuted claims suggesting it has ordered native banks to freeze accounts related to unlicensed digital foreign money exchanges.
Studies have surfaced that the CBN has directed monetary establishments to freeze accounts related to exchanges resembling Binance, OKX, Bybit, and KuCoin, however the CBN has denied issuing such directions. There may be.
in submit In X, the central financial institution clarified that the round instructing banks to freeze accounts related to unlicensed cryptocurrency exchanges didn’t come from the regulator. He urged the general public to belief official web sites for genuine info.
“All the time consult with the financial institution’s web site for genuine info,” the CBN confused.
Earlier studies mentioned the CBN had issued a directive directing banks to determine and freeze accounts concerned in transactions with digital foreign money exchanges. These accounts had been to be positioned beneath a 'Put up No Debit (PND) Order' for six months. Moreover, the report names Bybit, KuCoin, OKX, and Binance as exchanges that aren’t licensed to function in Nigeria.
Nevertheless, as of this writing, no official order concerning the freezing of financial institution accounts associated to digital foreign money transactions has been revealed on the CBN's official web site.
The CBN's stance on digital foreign money buying and selling has developed over time. In late 2023, the financial institution lifted its earlier ban on cryptocurrency actions within the nation, encouraging monetary establishments to implement cryptocurrency providers whereas additionally signaling a change in its strategy to Nigeria's cryptocurrency market. High 50 main cities with the infrastructure to expertise mass adoption of cryptocurrencies.
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