CBN: Do not throw the baby with the bathwater on crypto

Last week, it was reported that the government instructed the NCC to block some crypto website platforms.

Initially, it seemed like sensational and unverifiable reporting, especially because the NCC Public Relations team denied they had gotten such directives.

It is important to emphasize that this directive is illegal because these exchange platforms aren’t operating in Nigeria unlawfully as SEC Nigeria hasn’t yet initiated pertinent processes for centralized exchanges to apply to be licensed VASPs in the country.