Crypto will be allowed in Nigeria, eventually

Four months after closing all crypto-linked accounts, the Central Bank of Nigeria's governor stated that Nigerians would be allowed to trade in crypto.

Dean Fankhauser1 min read
Crypto will be allowed in Nigeria, eventually

The governor of the Central Bank of Nigeria, Godwin Emefiele, stated that Nigerians will be allowed to trade crypto almost four months after it informed banks to close crypto-linked accounts. “We have carried out our investigation and we found out that a substantial percentage of our people are getting involved in cryptocurrency which is not the best. Don’t get me wrong, some may be legitimate but most are illegitimate.” Claimed Godwin.

Despite the investigation, Emefiele did claim that crypto would come to life in Nigeria. No word yet on when Nigerians will be able to openly trade crypto and the governor also neglected to mention if trading will take place in the form of investment or payment.

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