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Experts kick as CBN orders closure of crypto accounts


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Joseph Olaoluwa
The Central Bank has ordered banks and other financial institutions to identify persons and entities operating crypto currency exchanges and close all such accounts.
This drew the ire of experts who criticised the apex bank for not being prepared for modern financial regulation.
The CBN stated that dealing with crypto currencies and facilitating payments through it was prohibited in the country.
This was disclosed in a circular on Friday titled ‘Letter to all Deposit Money Banks, non-bank financial institutions and other financial institutions’.
The circular was signed by the Director of Banking Supervision, Bello Hassan; and the Director of Payments System Management Department. ....

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Breaking News | Breaking News CBN declares trading in cryptocurrency illegal, orders banks to close accounts


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The Central Bank of Nigeria has ordered banks and other financial institutions to identify persons and entities operating cryptocurrency exchanges and close all such accounts.
It stated that dealing with cryptocurrencies and facilitating payments through them are illegal in the country.
This was disclosed in a circular titled ‘Letter to all Deposit Money Banks, non-bank financial institutions and other financial institutions’ Friday.
The circular was signed by the Director of Banking Supervision, Bello Hassan; and the Director of Payments System Management Department.
It read, “The Central Bank of Nigeria circular of January 12, 2017 ref FPR/DIR/GEN/CIR/06/010 which cautioned the Deposit Money Banks, non-bank financial institutions, other financial institutions and members of the public on the risk associated with transactions in cryptocurrency refers. ....

Bello Hassan , Central Bank , Payments System Management Department , Deposit Money Banks , Banking Supervision , Payments System Management , பெல்லோ ஹாசன் , மைய வங்கி , கொடுப்பனவுகள் அமைப்பு மேலாண்மை துறை , வைப்பு பணம் வங்கிகள் , வங்கி மேற்பார்வை , கொடுப்பனவுகள் அமைப்பு மேலாண்மை ,

CBN orders banks to close cryptocurrency accounts


Punch Newspapers
Sections
Nike Popoola
The Central Bank has ordered banks and other financial institutions to identify persons and entities operating cryptocurrency exchanges and close all such accounts.
It stated that dealing with cryptocurrencies and facilitating payments through them are illegal in the country.
This was disclosed in a circular titled ‘Letter to all Deposit Money Banks, non-bank financial institutions and other financial institutions’ Friday.
The circular was signed by the Director of Banking Supervision, Bello Hassan; and the Director of Payments System Management Department.
It read, “The Central Bank of Nigeria circular of January 12, 2017 ref FPR/DIR/GEN/CIR/06/010 which cautioned the Deposit Money Banks, non-bank financial institutions, other financial institutions and members of the public on the risk associated with transactions in cryptocurrency refers. ....

Bello Hassan , Central Bank , Payments System Management Department , Deposit Money Banks , Banking Supervision , Payments System Management , பெல்லோ ஹாசன் , மைய வங்கி , கொடுப்பனவுகள் அமைப்பு மேலாண்மை துறை , வைப்பு பணம் வங்கிகள் , வங்கி மேற்பார்வை , கொடுப்பனவுகள் அமைப்பு மேலாண்மை ,