Is Bitcoin Banned In Nigeria - Breaking Nigerian Fg Ban The Buying And Selling Of Bitcoin Cryptocurrency And The Rest Searchngr - Nigerians are free to use bitcoin, says cbn declares by sodiq adewale chocomilo on mar 20, 2021 the central bank of nigeria (cbn) has declared that there was no time the bank banned the activities of cryptocurrencies in the country.. Banning cryptocurrency by the central bank of nigeria can be viewed as a propagation of arbitrary law. #bitcoin peer to peer trading in nigeria up by 27% since the central bank banned financial institutions from crypto 85 days ago. Nigeria is africa's largest economy, its most populous country, and home to one of the youngest populations in the world. At least, the ban should pass through check and balances in conjunction with the national assembly. Unfortunately, the ban — which came as a sudden reminder of what the cbn has.
The central bank of nigeria (cbn) passed a circular on january 17th, 2017, asking nigerian financial institutions, including banks, that transactions in bitcoin and other virtual currencies are banned in nigeria. But no matter what, i commend cbn for this. The restricted accounts belonged to predominantly young nigerians who had either sent or received funds to run the