Local media have reported at least three such cases

​Nigeria's central bank closes accounts of companies and individuals trading in cryptocurrencies

09.11.2021 - 08:45


1 min

What's new? Nigeria's regulator has issued an order requiring commercial entities to close the accounts of two individuals and one company involved in cryptocurrency trading, Peoples Gazette reports. Once closed, all funds will be moved to temporary accounts for further proceedings.

The full material in local media

What is the reason for the closure of the accounts? According to the regulator’s representatives, the company TVS Hallmark Service Limited as well as individuals Nwaorgu Kingsley Chibuzor and Nnamdi Francis Okereke violated the country's financial laws.

In particular, this includes the bank's decision of February 5, 2021, which prohibits commercial financial institutions from providing services to customers that deal in cryptocurrencies. The authority stresses that the ban does not apply to ordinary people who buy and sell bitcoin for personal use.

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