Family Lifers Forums

Create forums and topics you and your friends can discuss. You can see your friends activities, views and responses on all topics!

Home Forums Business Matters Breaking: CBN directs banks to shutdown crypto accounts 

This topic contains 0 voices and has 0 replies.
0 voices
0 replies
  • Creator
    Topic
  • #5192
    FM
    Participant

    Breaking: CBN directs banks to shutdown crypto accounts

    By Elizabeth Adegbesan

    The Central Bank of Nigeria, CBN, has directed Deposit Money Banks (DMBs), Other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) local financial institutions against having any transactions in crypto or facilitating payments for crypto exchanges. The  apex bank disclosed this today in a letter to all DMBs, OFIs and NBFIs.

    The regulator noted that “breaches of this directive will attract severe regulatory sanctions.” The circular signed by Director of Banking Supervision, Bello Hassan stated:” The CBN circular of January 12, 2017 ref

    “Further to other regulatory directive on the subject, the bank hereby wishes to remind regulated institutions that dealing in crypto currencies or facilitating payment from cryptocurrency exchanges is prohibited.

    “Accordingly, or DMBs, OFIs, NBFIs, are advised to identify persons and /or entities transacting in or operating crypto currency exchanges within their system and ensure that such accounts are closed immediately.”

    Read more at: https://www.vanguardngr.com/2021/02/breaking-cbn-directs-banks-to-shutdown-crypto-accounts/

Share
Topic tags

You must be logged in to reply to this topic.
Login or Register

Share

Invite your friends to Familylifers

CLICK THE BUTTON BELOW TO INVITE YOUR FRIENDS TO CONNECT WITH YOU ON FAMILYLIFERS.

WEEKLY TOP LIFERS (MEMBERS)

  1. # 1Profile Photo
    Family Lifers
    7126 Points
  2. # 2Profile Photo
    KUFRE EKPO
    1677 Points
  3. # 3Profile Photo
    Seyibabs8
    1616 Points
  4. # 4Profile Photo
    Sam P
    631 Points
  5. # 5Profile Photo
    Ronkie babe
    614 Points

Members

New Report

Close