Cryptocurrency Q&A
Did the Central Bank of Nigeria lift restrictions on cryptocurrency transactions?
Did the Central Bank of Nigeria lift restrictions on cryptocurrency transactions?
SapphireRider
Fri Aug 30 2024
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7 answers
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Could you please clarify if the Central Bank of Nigeria has indeed lifted any previous restrictions that were imposed on cryptocurrency transactions? I understand that there have been debates and discussions surrounding the legality and regulation of cryptocurrencies in Nigeria, so it would be helpful to know if there have been any recent developments in this regard. Additionally, could you elaborate on the potential implications of such a move, both for the Nigerian economy and for individual cryptocurrency traders and investors?
7 answers
charlotte_wright_coder
Sun Sep 01 2024
In a recent development, the Central Bank of Nigeria has announced a significant shift in its stance towards cryptocurrency transactions.
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EnchantedDreams
Sun Sep 01 2024
The bank has lifted the previous restrictions imposed on commercial banks engaging in cryptocurrency-related activities.
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CherryBlossomDance
Sun Sep 01 2024
This move is detailed in a circular dated December 22, 2023, which carries the reference number FPR/DIR/PUB/CIR/002/003.
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CryptoMaven
Sat Aug 31 2024
The circular is signed by Haruna Mustafa, the Director of the Financial Policy and Regulation Department at the apex bank.
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Riccardo
Sat Aug 31 2024
The lifting of restrictions indicates a growing acceptance of cryptocurrencies within the Nigerian financial landscape.
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