Following The Circular By The Central Bank Of Nigeria Dated December 22, 2023, Bearing Reference Number FPR/DIR/PUB/CIR/002/003 And Signed By Haruna Mustafa, Director Of The Financial Policy And Regulation Department, Banks Were Instructed To Disregard Their Previous Restrictive Stance On Cryptocurrencies.

Titled “Circular to All Banks and Other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers,” The Circular Explained The CBN’s Shift In Policy Regarding Digital Currencies, Citing The Influence Of Current Global Trends In Its Decision-Making Process.