Sunday, 7 February 2021


Atiku Abubakar

An erstwhile vice president and Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, has condemned the President Muhammadu Buhari-led Federal Government's decision to shut down cryptocurrencies in Nigeria.


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Atiku argued that Nigerians, most especially the youths have been under immense economic pressure, pointing out that it's the job of the government to reduce that pressure, rather than adding to it.


The Central Bank of Nigeria (CBN), had on Friday in a letter addressed to all deposit money banks, and financial institutions, stated that dealing in cryptocurrencies is prohibited, adding that any breach in the directive would attract a severe regulatory penalty.


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Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited.


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