Central Bank of Nigeria Lifted its Ban on Cryptocurrencies

Nigerian Banks Still Not Allowed To Trading Cryptocurrency

The Central Bank of Nigeria has lifted its ban on banks engaging with cryptocurrencies after nearly two years.

Recognizing global crypto demand, the bank aims to regulate virtual asset service providers (VASPs) through new guidelines. However, banks are still barred from holding or trading cryptocurrency using their accounts. The move follows calls for broader blockchain integration in Nigeria.