Is Bitcoin Banned In Nigeria : How to make money with Bitcoin in Nigeria Legit.ng - Coin.dance countries where bitcoin is banned.. The central bank of nigeria has provided the reasons why it banned bitcoin and other cryptos in the nation. But shady investments and the famous nigerian 'princes' might play a role; Bitcoin adoption in nigeria continues to soar as citizens are exploring crypto for remittances. Legal map of bitcoin and other cryptocurrencies. After nigeria's ban on cryptocurrencies, many african countries — such as south africa, where bitcoin is widely accepted — are probably monitoring the development closely.
Unfortunately, the ban — which came as a sudden reminder of what the cbn has. The government cripples the regular remittance industry and remains unable to stop the devaluation of the domestic currency, the nigerian naira. Nigerians are free to use bitcoin, says cbn declares by sodiq adewale chocomilo on mar 20, 2021 the central bank of nigeria (cbn) has declared that there was no time the bank banned the activities of cryptocurrencies in the country. When the major fundraisers, feminist coalition, were blocked, a bitcoin wallet was set up which donors used to pour in support from across the world. Now, let the debate begin.
But no matter what, i commend cbn for this.
Nigeria is africa's largest economy, its most populous country, and home to one of the youngest populations in the world. The hasty ban could be viewed as the product of absolute power which corrupts absolutely. Bitcoin and cryptocurrencies are generally welcomed. Unfortunately, the ban — which came as a sudden reminder of what the cbn has. The central bank of nigeria (cbn) has clarified a statement it issued last month that seemed to order financial institutions to shut down all accounts associated with cryptocurrency trading. The restricted accounts belonged to predominantly young nigerians who had either sent or received funds to run the