The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks.
Godwin Emefiele, governor of Nigeria’s central bank which previously banned banks from servicing crypto exchanges, has reportedly clarified the bank’s position on the use of cryptocurrencies in the country.
According to local news outlet TodayNG, Central Bank of Nigeria, or CBN, deputy governor Adamu Lamtek said on behalf of Emefiele that the bank had not banned Nigerian residents from buying, trading, or selling crypto, but “[protected] the banking sector from the activities of cryptocurrencies.” Lamtek spoke at a seminar for the Finance Correspondents and Business Editors in the capital, Abuja.
“The CBN did not place restrictions from use of cryptocurrencies and we are not discouraging people from trading in it,” said Emefiele.