The Central Bank of Nigeria, CBN, clarified that the apex bank did not ban Cryptocurrency activities in the country.

The Governor of CBN, Godwin Emefiele, disclosed this today, in Abuja, at the 30th seminar for Finance Correspondents and Business Editors which was organised by the bank.

Emefiele, who was represented by Adamu Lamtek, Deputy Governor, Corporates Services, said what the bank did was to protect the banking sector from the activities of Cryptocurrencies and not a ban on its activities.

“The CBN did not place restrictions from use of Cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on Cryptocurrencies in the banking sector,” Lamtek said.