The Central Bank of Nigeria has ordered all banks in the country to close accounts transacting cryptocurrencies.
The year 2020 was the year when central banks all over the world began to work to issue digital currency. 2021 has been a candidate to be the year when central banks wage war on cryptocurrencies. Last week, "hostile" attitudes towards cryptocurrencies had come from three different central banks. Today, "hostile" decisions came first from the Reserve Bank of Australia and then from the Central Bank of Nigeria.
The Central Bank of Nigeria (CBN) has ordered all banks in the country to block all accounts that transact with cryptocurrencies. Today, Nigerian Central Bank Banking Supervisory Manager Bello Hassan sent a statement to all banks. Dealing with cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited, according to the statement.
It was also added that if the order was violated in any way or the rule was not taken, the banks would face "heavy regulatory sanctions".
Huge progress has been made in Nigeria, especially in terms of bitcoin adoption. It is certain that Nigeria, which has the title of being the biggest Bitcoin market in Africa, will lose its title with this decision.
