Central Bank of Nigeria fines four banks for flouting directive on cryptocurrency transactions.
Written by News Room on April 8, 2022
The Central Bank of Nigeria, CBN, has fined four banks for flouting its directive on cryptocurrency transactions.
The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency.
According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited.
In a report by newsmen on Wednesday, the CBN has now fined at least four banks for failing to comply with that regulation.
The banks include Stanbic IBTC Bank, Access Bank, United Bank for Africa and Fidelity Bank.
Amen J Kantiyok
