More gloom than hope has followed the earlier circular released by Nigeria's apex bank and financial regulator clamping down on cryptocurrency activities within the country. Since the circular was issued, several cryptocurrency exchanges and platforms offering various forms of crypto transactions and operating in Africa's largest country by population, have been forced to immediately cease activities.
Luno has been one of such platforms that came to advance the possibilities of crypto currency within the country. It initially stated on its platform, following the Central Bank of Nigeria's shocking announcement, that users in Nigeria should not panic as all was well as far as their platform and activities in Nigeria was concerned.
That confidence seems to have waned as an email was sent to their Nigerian users today announcing the disabling of deposits and withdrawals of Naira on its platform.
This is a huge blow for many Nigerians who rely on trustworthy platforms like Luno to access and engage the crypto market and industry. Hopefully this is all resolved soon and Nigerians can properly rejoin the rest of the world on its solid march to the future of money and finance as we know it.
