Official Reversal: Nigerian Central Bank Disavows Earlier Directive on Crypto Exchange Relationships
The Central Bank of Nigeria (CBN) has refuted a letter circulating online that instructed financial institutions to sever ties with four global cryptocurrency exchanges, labeling it as “fake content.”
The alleged letter warned of severe regulatory sanctions for institutions failing to disconnect from Binance, Bybit, Kucoin, and Okx. Despite the absence of official mention on their website, the CBN swiftly clarified via social media that the letter did not originate from them, advising the public to seek “authentic updates” on their official website.
This incident has caused confusion and anxiety among Nigerian crypto stakeholders, with some speculating on the authenticity of the letter and the CBN’s rapid dismissal of it. The situation reflects ongoing tensions between the Nigerian government, CBN, and global crypto exchanges, particularly targeting Binance.
Clever Robot News Desk 26th April 2024
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