{"id":39324,"date":"2021-03-22T11:57:09","date_gmt":"2021-03-22T09:57:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39324"},"modified":"2025-08-30T09:00:58","modified_gmt":"2025-08-30T06:00:58","slug":"nigerias-central-bank-clarifies-its-position-on-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nigerias-central-bank-clarifies-its-position-on-cryptocurrencies\/","title":{"rendered":"Nigeria’s central bank clarifies its position on cryptocurrencies"},"content":{"rendered":"

The Central Bank of Nigeria (CBN) has not prohibited local residents from buying and selling Bitcoin; the restrictions apply only to financial institutions. This was reported by Today NG<\/a>.<\/p>\n

<\/p>\n

A regulator’s representative, Adamu Lamtek, said that the CBN “has not discouraged people” from trading digital assets.<\/p>\n

\n

“All that we did,” he said, “was to ban cryptocurrency transactions in the banking sector.”<\/p>\n<\/blockquote>\n

On February 5, the CBN ordered<\/a> commercial financial institutions to close the accounts of companies that deal with digital assets. In the regulator’s view, this would help protect the local economy from risks.<\/p>\n

The Nigerian Senate demanded that the central bank governor Godwin Emefiele explain the introduced restrictions<\/a>.<\/p>\n

On February 18, on the Quidax trading platform, the price of Bitcoin in the naira pair surpassed $76,000<\/a>.<\/p>\n

In March, Nigeria’s Vice President Yemi Osinbajo urged cautious adoption<\/a> of blockchain and cryptocurrencies.<\/p>\n

Follow ForkLog on Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria (CBN) has not prohibited locals from buying and selling Bitcoin; the restrictions apply only to financial institutions. This was reported by Today NG.<\/p>\n","protected":false},"author":1,"featured_media":39325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[150,36],"class_list":["post-39324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nigeria","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=39324"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39324\/revisions"}],"predecessor-version":[{"id":39326,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39324\/revisions\/39326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/39325"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=39324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=39324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=39324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}