CBN withdraws notice on bitcoin transactions

This statement from the Central Bank of Nigeria is in response to a notice circulating on social media that warns about the risks associated with cryptocurrency. The Apex bank has clarified that this notice is fake news and should be disregarded. The Central Bank has also reminded institutions that dealing in cryptocurrencies and facilitating payments for cryptocurrency exchanges is prohibited. This serves as a reminder to the public to exercise caution and verify information before believing everything they see on social media.

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The Central Bank of Nigeria (CBN) has denied any involvement in the recent news circulating about over $26 billion being funnelled through Binance, a popular cryptocurrency exchange. The CBN clarified that this information did not originate from them and advised people to check the official website for authentic updates. This statement contradicts the recent comments made by the CBN governor during the Bank’s 293rd Monetary Policy Committee meeting, which stated that over $26 billion was indeed funnelled through Binance. Additionally, the Economic and Financial Crimes Commission (EFCC) has stated that they froze around 300 accounts to protect the foreign exchange market, further adding to the conflicting information surrounding this issue.

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