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The uncertain future of cryptocurrencies in Nigeria

Punch Newspapers Sections Chukwuemeka Fred Agbata Jnr. In one of the previous articles on my ICT Clinic column, I expressed my concerns about the Nigerian government’s draconian policies which do not take its citizens into consideration. Needless to say, it has happened again! The cryptocurrency community along with its ardent supporters are perplexed and equally enraged about the recent circular passed by the Central Bank of Nigeria on 5th February 2021. Dated January 12, 2017, with ref FPR/DIR/GEN/C1R,06/010, the circular warned Deposit Money Banks, Non-Bank Financial Institutions, Other Financial Institutions, and individual citizens against the risk associated with transactions with cryptocurrency.

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