JUST IN: CBN Orders Nigeria Financial Institution to close all Cryptocurrency accounts.

The Central Bank of Nigeia has ordered all Nigeria Banks to prohibit cryptocurrency payments in the country.

The directive is contained in a letter addressed to all Deposits Money Banks(DMBs).

In the letter,the CBN referenced a circular it issued in January 12,2017 reef FPR/DIR/GEN/CIR/06/010 which cautioned Deposit Money Banks (DMBs),Non-Bank Financial Instituion (OFIs) as well as members of the public on the risk associated with transaction of cryptocurrency.

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