More Millions Of Nigeria Set To Join The Unemployed As Nigeria CBN Shuts Down Crypto
In a country blessed with both mineral resources and human resource but full of corrupt government, News reaching AfriNOTES reports that CBN (Central Bank of Nigeria) has finally shut down cryptocurrency, bitcoin in Nigeria financial market
This is a true state of old men with blinds eyes to innovative technology, zero ability to listen to the global economy treads around the world, but choose to take the wrong move in shutting down crypto in Nigeria
For what the Government of Nigeria don’t understand they now demonize millions of Nigerians with this single action
Nigerians who have been directly or indirectly employed by the cryptocurrency trade and coin niche economy are now more in danger to join the booming unemployment market in Nigeria
The news came to us an early hour of today February 5, 2021, as multiple online reports have it that CBN has shut down cryptocurrency Exchange Bank Accounts
Below was the letter report
LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS, AND OTHER FINANCIAL INSTITUTIONS
The Central of Bank of Nigeria’s (CBN) circular of January 12, 2017 ref FPR/DIR/GEN/C1R,06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the pubic so the risk associated with transactions In cryptocurrency refers.
Father to earlier regulatory directives on the subject, the Bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited. Accordingly, all DMBs.
NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating cryptocurrency exchanges within tier systems and ensure that such accounts are closed immediately.
Please note that breaches of this directive will attract severe regulatory sanctions. This letter is with immediate effect.
Forget every News you read about WHY CBN Shut down Cryptocurrency. The truth is that The Nigeria Government Through CBN shutdown Cryptocurrency as a Result of ENDSARS 2020 nationwide protest
Last year ENDSARS Protest Movement got 85% of her sponsorship through CRYPTO Donation across the globe
So the Government is making sure that all source of mass protest and sponsorship known to them is completely clampdown
The is the reality of Bad Leadership and wickedness of the Government to the Nigeria nationals