By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Crypto: Nigerians react as CBN directs banks to close accounts
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Crypto: Nigerians react as CBN directs banks to close accounts

Farouk Mohammed
By Farouk Mohammed
Published: February 5, 2021
Share
1 Min Read
SHARE

Nigerians on social media are reacting following a directive by the Central Bank of Nigeria (CBN) to close bank accounts of persons or entities involved in cryptocurrency transactions within their systems.

Netizens, especially on Twitter, expressed their displeasure over the directive contained in a circular dated 5th February 2021 by the CBN to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs).

According to social media, the new directive will have a great impact on the financial economy of the country.

Here are some reactions below:

- Advertisement -

https://twitter.com/dammiedammie35/status/1357696951047884808?s=20
https://twitter.com/dj_switchaholic/status/1357698393846480897?s=20
https://twitter.com/SavvyRinu/status/1357701469303111681?s=20
https://twitter.com/SMiTHiE___/status/1357693361449275394?s=20

Federal Government banning Crypto is another proof this country is designed to make people poor.

— DREYLO (@RealDreylo) February 5, 2021

Banning #Crypto is like locking up the barn door after the horses have long fled the stable. We can either drive things underground or build policies around harnessing crypto benefits.

— Steve Babaeko (@Steve_eko) February 5, 2021
Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNCryptoCryptocurrency
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article CBN orders banks to close accounts dealing with cryptocurrency
Next Article Emirates FG lifts suspension on Emirates flights from Nigeria

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

BREAKING: Former Chief Justice of Nigeria, Mohammed Uwais, Passes Away at 89
News Top stories
Russia Launches Deadly Drone and Missile Strikes Across Ukraine Following Ukrainian Attacks on Russian Bomber Fleet
International
MTN Nigeria Doubles ICT Industry Average with 41.4% Female Workforce Representation
Top stories
Lagos Commuters Endure Severe Gridlock as Pre-Sallah Activities Paralyze Major Routes
News
Nigeria GDP Growth, Nigeria renewable energy
Sallah 2025: Tinubu’s Economic Optimism and Nationwide Security Measures Highlight Nigeria’s Eid Celebrations
News Top stories
- Advertisement -
Ad imageAd image

You May Also Like

News

Tinubu Warns Lagos, States Against Unauthorised Island Approvals, Vows to Revoke Encroachments

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
News

Shettima Inaugurates African Medical Centre of Excellence in Abuja, Hails New Era in African Healthcare

Muhammad A. Aliyu
Muhammad A. Aliyu
June 5, 2025
News

Tinubu Pledges Increased Infrastructure Funding, Calls for State-Federal Collaboration on Approvals

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 5, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?