The Central Bank of Nigeria (CBN) is evaluating a new set of guidelines to protect the financial system in a follow-up to the recent ban on certain cryptocurrencies in Nigeria, The Nation learnt yesterday in Abuja.
The apex bank may authorise Bureaux De Change Operators (BDCs) to resume forex transactions at the Nigerian Autonomous Foreign Exchange Market (NAFEM) – the official market tomorrow.

Sources at the CBN said the planned measure on cryptocurrencies was not only to protect investors but also to safeguard the overall financial stability of the country.

The sources acknowledged the potential of cryptocurrencies but stressed the need for appropriate regulations to ensure that their coming does not get out of control.

February 25, 2024

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