CBN Speaks On Ordering Banks To Ban Accounts Of Customers Dealing In Cryptocurrencies

The Central Bank of Nigeria (CBN) has denied issuing a fresh directive to Deposit Money Banks, Non-bank Financial Institutions and other Financial Institutions in the country to take action against accounts and customers dealing in cryptocurrencies.

A trending statement, dated April 23, 2024, which purportedly originated from the CBN banking supervision department, had claimed the apex bank warned commercial banks and other financial institutions in the country to desist from dealing in cryptocurrencies or facilitating payments for cryptocurrencies.

The purported statement claimed such dealings were prohibited and ordered banks to identify accounts within their system related to crypto trading and ensure such accounts are placed on Post No Debit (PND) status for six months.

It claimed the CBN is out to investigate economic problems in the country by identifying and arresting perpetrators working secretly with cryptocurrency platforms.

However, the CBN, in a terse statement on Wednesday, denied issuing such directives.

The apex bank cautioned that the information did not originate from it, labelled the statement as fake, and urged members of the public to disregard it.

It urged members of the public to visit the bank’s website for verified information.

“This information does not originate from the Central Bank of Nigeria.

“For accurate and authentic updates, please visit the official website of the Bank at https://cbn.gov.ng,” the CBN said as it shared a copy of the fake statement on its official X account.

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