The Central Bank of Nigeria (CBN) refutes reports claiming it ordered banks to freeze accounts associated with unlicensed crypto exchanges like Binance, OKX, Bybit, and KuCoin.
CBN clarified that the circular instructing banks to freeze such accounts did not originate from the regulator and urged the public to rely on its official website for authentic information.
Earlier reports suggested that CBN directed banks to identify and freeze accounts engaged in transactions with unlicensed crypto exchanges, placing them under a "Post No Debit (PND) instruction" for six months.
Despite evolving stances on cryptocurrency transactions, including lifting previous bans, no official orders regarding the freezing of banking accounts linked to crypto transactions have been published on CBN's website.