What’s Nigeria’s beef with cryptocurrency?
Why is the Central Bank of Nigeria cracking down on cryptocurrency accounts?
Africa Daily · BBC World Service
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Show Notes
Is Nigeria done with cryptocurrencies?
For the last couple of years, Nigeria has built a reputation as one of the largest cryptocurrency markets in the world.
On social media, there’s no shortage of “rags to riches” stories: people who, having joined the cryptocurrency bubble, made good money in the process.
But the Central Bank of Nigeria is worried about the legality of this trade, as well as its lack of transparency and regulation.
So, it has asked banks to close down cryptocurrency accounts – which has angered many of the “crypto-evangelists” involved in the trade.
Could this be the end of cryptocurrencies in Nigeria?
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