Within the full mood of cryptocurrency, a piece of bad news has come from Nigeria. Their central bank bans all sorts of services related to cryptocurrency, the central bank of Nigeria imposes a critical situation on their financial institution from providing services regarding Cryptocurrency but According to the central bank’s notice, the ruling is an extension of earlier warnings from the bank about the risks associated with digital currencies.
Recently, CBN (Central Bank of Nigeria) has issued a notice which contains a ban against every digital currency, they directed all commercial banks in order to close every account which are mainly engaged in cryptocurrency exchange. Not only that but also they have given harsh warnings about the penalties who could fail to maintain their order in the future.
In October 2020, cryptocurrency was the burning issue and some people protested against police brutality, that’s the beginning action towards cryptocurrency. It’s also true some recognised crypto based media claimed that Nigeria was ready to accept Cryptocurrency and then the explosion was started.It’s a series of steps against cryptocurrency while cryptocurrency is becoming very popular in this country.