Nigeria: CBN Governor alleges ‘high-level illegality’ in crypto-firms
Many countries have been changing their perspective with regards to cryptocurrencies, of late. In that context, India, recently, softened its approach to digital assets. However, Nigeria, having the highest grassroots crypto adoption has raised the fences.
Well, the Central Bank of Nigeria clearly stated that the country was not endorsing cryptocurrencies. In fact, the Governor, Godwin Emefiele called the industry and its operators “embedded in illegality.”
Shortly after the launch of e-Naira, the central bank had begun tightening the noose around the crypto users. The memo issued to commercial banks nearly two weeks ago ordered to flag accounts suspicious of using crypto including foreign exchange dealers.
In fact, the governor has once again
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