Egoras- About The Nigerian CBN Regulations

Egoras
1 min readFeb 9, 2021

--

On Friday, 5th February 2021, the Central Bank of Nigeria (CBN) issued a circular to DMBs, BFIs and OFIs requesting them to close account of any person transacting in or operating any cryptocurrency exchange. The apex regulatory agency for financial services in Nigeria equally reminded regulated entities that dealing in cryptocurrency is prohibited.

We note that the circular issued by the CBN did not prohibit or declare cryptocurrency illegal in Nigeria. Indeed, we understand that the CBN does not have the power to declare cryptocurrency illegal in Nigeria; and by its circular of 5 February 2021, the CBN has not done so. The general public is therefore notified that Egoras is in no way affected by the CBN circular as Egoras is not one of the regulated entities prohibited from dealing in cryptocurrency neither does Egoras transact in nor operate any cryptocurrency exchange in Nigeria.

Website: https://egoras.org
Twitter: https://twitter.com/egorasmarket
Telegram: https://t.me/egorasmarket
Github: https://github.com/EgorasMarket

--

--

Egoras
Egoras

No responses yet