At a webinar organised by Firstbank Nigeria Ltd, the Central Bank of Nigeria (CBN) again warns Nigerians on the need for caution regarding cryptocurrency. This it says is because cryptocurrency is not yet regulated either by CBN or any regulatory authority in the nation’s financial sector.
“Let me say for the umpteenth time, cryptocurrency is not yet a legal transaction in Nigeria. It is not yet regulated either by CBN or any regulatory authority in the nation’s financial sector, and that is why we need to be very careful. CBN has not regulated or put anything forward for cryptocurrency, and I will therefore advise Nigerians to be wary of such transactions since it does not provide them with the opportunity of redress, should the transaction go awry,” he added.
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