Nigerians react to CBN’s Cryptocurrency ban

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The Nigerian crypto community recently received a shocker when CBN released a circular warning financial institutions to desist from dealing or facilitating payments for cryptocurrency.

Many young Nigerians who engage in crypto showed great displeasure with the directive as the influence the apex bank has on Africa’s fast-growing financial ecosystem could have an adverse effect on the response globally.

The circular released to the public brought about fury and concern from the Fintech industry and political leaders as Bitcoin and CBN were among the top trends on social media upon the release of the circular.

Benedict Murray-Bruce, a Nigerian business magnate and a former senator wrote via his Twitter handle, questioning why such a decision was made so hurriedly.

In light of the former senator’s response, there are Nigerians who reacted differently to his mention of CBN drastic action as hasty via Twitter;

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