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Reading: Crypto: Nigerians react as CBN directs banks to close accounts
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© 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
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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:

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How can you ban crypto transactions in 2021 !! A currency that’s growing our economy little by little.People are making money legitimately.Doubling their money and taking care of their families with it!They just want us to suffer! Our government hates progress!! It’s saddening💔

— Oyindamola🙄 (@dammiedammie35) February 5, 2021

If the ban on crypto by CBN is true ehn, it points yet again to the ill informed, backward, poverty promoting dinosaurs 🦖 leading us. Use your time ⌚ to investigate and close accounts sponsoring terrorists in the country if you don't know what to do!!! GAWD 🤦🏾‍♂️#endsars 🚶🏾‍♂️

— Dj Switch (@dj_switchaholic) February 5, 2021

The Nigerian government has just legitimized a reason for security forces harassment/profiling.

• Finding any Crypto app or trading app on your phone.#EndSARS

— Rinu Oduala 🔥🔫 (@SavvyRinu) February 5, 2021

The 1500 I invested in this Crypto thing can’t just go like that.

Please #WeWantOurCryptoBack 🤲🏼

— Alhaji Beardless Smallie👳🏽‍♀️ (@the_smallie) February 5, 2021

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

TAGGED: CBN, Crypto, Cryptocurrency
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