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Nigeria's Central Bank Orders Banks to Close Accounts of All Crypto Users
Any breaches of the order would face "severe regulatory sanctions," the central bank warned.
Updated Dec 10, 2022, 8:00 p.m. Published Feb 5, 2021, 2:52 p.m.
The Central Bank of Nigeria (CBN) has ordered all banks to close any accounts transacting with cryptocurrencies.
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- The CBN said it was reminding regulated banking institutions that "dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited."
- As such, all banks should "identify persons and/or entities" transacting with cryptocurrency or operating crypto exchanges on their platforms and "ensure that such accounts are closed immediately."
- Any breaches of the order would face "severe regulatory sanctions," the order states.
- The CBN letterhttps://www.cbn.gov.ng/Out/2021/CCD/Letter%20to%20All%20Banks%20on%20Crypto%20Currency.pdf is signed by Bello Hassan, Director of Banking Supervision, and dated Feb. 5.
Read more: Nigeria’s Central Bank Again Warns on Crypto Investments
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Ano ang dapat malaman:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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