#central-bank-of-nigeria

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Coindesk
8 months ago
Business

Nigeria's Central Bank Fleshes Out New Rule Allowing Crypto Firms' Access to Bank Accounts

The Central Bank of Nigeria (CBN) has released guidelines for banks on digital assets, indicating a softened stance on crypto regulation.
The guidelines allow for the opening of accounts for virtual asset service providers, a reversal of the previous ban on servicing crypto firms by financial institutions in Nigeria.
The regulations do not permit Nigerian banks to hold or trade cryptocurrencies on their own behalf, and certain restrictions remain in place for cash withdrawals and third-party checks. [ more ]
Coindesk
9 months ago
Cryptocurrency

Nigeria Lifting Ban on Bank Accounts for Crypto Firms Could Lead to Usage 'Surge'

The Central Bank of Nigeria reversed its prohibition on local banks and financial institutions serving crypto firms in a move that is likely to spur the use of cryptocurrencies in one of the world's fastest adopters of digital assets.
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