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Reading: Crypto: Nigerians react as CBN directs banks to close accounts
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Crypto: Nigerians react as CBN directs banks to close accounts

Farouk Mohammed
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Farouk Mohammed
ByFarouk Mohammed
Publisher
Farouk Mohammed is the Publisher and Lead Editor of Okay News, an international digital news platform delivering verified reporting across technology, global affairs, business, innovation, and...
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Published: 2021/02/05
1 Min Read
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Nigerians on social media are reacting following a directive by the Central Bank of Nigeria (CBN) to close bank accounts of persons or entities involved in cryptocurrency transactions within their systems.

Netizens, especially on Twitter, expressed their displeasure over the directive contained in a circular dated 5th February 2021 by the CBN to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs).

According to social media, the new directive will have a great impact on the financial economy of the country.

Here are some reactions below:

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How can you ban crypto transactions in 2021 !! A currency that’s growing our economy little by little.People are making money legitimately.Doubling their money and taking care of their families with it!They just want us to suffer! Our government hates progress!! It’s saddening💔

— Oyindamola🙄 (@dammiedammie35) February 5, 2021
https://twitter.com/dj_switchaholic/status/1357698393846480897?s=20

The Nigerian government has just legitimized a reason for security forces harassment/profiling.

• Finding any Crypto app or trading app on your phone.#EndSARS

— Rinu Oduala 🔥🔫 (@SavvyRinu) February 5, 2021

The 1500 I invested in this Crypto thing can’t just go like that.

Please #WeWantOurCryptoBack 🤲🏼

— SMALLIE (@the_smallie) February 5, 2021

Federal Government banning Crypto is another proof this country is designed to make people poor.

— DREYLO (@RealDreylo) February 5, 2021

Banning #Crypto is like locking up the barn door after the horses have long fled the stable. We can either drive things underground or build policies around harnessing crypto benefits.

— Steve Babaeko (@Steve_eko) February 5, 2021
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