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Nigeria's central bank reportedly freezes crypto traders' accounts
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The Central Bank of Nigeria has reportedly ordered all commercial banks in the country to freeze accounts with at least two individuals engaged in crypto trading.
According to a Nov. 7 report from Nigerian news outlet Peoples Gazette, the Director of Banking Supervision, J.Y. Mammanand, issued a notice directing the central bank to close the accounts of two alleged crypto traders and move their funds “in suspense accounts.” Mammanand cited a Central Bank of Nigeria, or CBN, circular issued in February as grounds for the account closures.
The crackdown is reportedly part of a larger move by banking regulators to immediately close the accounts of Nigerian residents or companies “transacting in or operating cryptocurrency exchanges” using local
Read more on cointelegraph.comAbout this in other media
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