In a statement signed by Bello Hassan, Director of Banking Supervision; and Musa Jimoh, Director of Payments System Management Department, the CBN said: "Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in crypto currencies or facilitating payments for cryptocurrency exchange is prohibited.
"Accordingly, all DMBs, NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating crypto currency exchanges within their systems and ensure that such accounts are closed immediately."
— OG Waheedi. (@gboukzi) February 5, 2021Nigeria is reportedly the world's 2nd largest Bitcoin trading volume. And the youths of the country are very much invested in it. Upon hearing the new policy, lots of youths who have access to social media, most especially WhatsApp have voiced out their pain heartbreak and disappointment at such new development from CBN.
Someone should tell the government that if they use Nigeria’s 2021 budget to buy Crypto and keep it for the next 10 months, we’d be debt free by December.
— Fairly used boyfriend 💫 (@brysonadahcole) February 5, 2021
ANOTHER PROTEST LOOMING ON CRYPTO CURRENCY What exactly do want from us? What do you gain seeing the Nigerian youth in pains???#wewantourcryptoback@cenbank @MBuhari @nassnigeria @ProfOsinbajo
— King Leo Shorlex™💓 (@awoniyishola) February 5, 2021
Nigeria's Dream is to Kill the Youths, Frustrate their dreams to be successful. Every year there is a new Policy to destroy the Youths, Several companies run on Crypto will be destroyed, online transactions will be ruined & this gives Orgasm to CBN & Emefiele.
Agents of Pain — Odogwu🤴 (@Daddy_Nomso) February 5, 2021
