The Central Bank of Nigeria has ordered that the bank accounts of two people suspected of illegally trading cryptocurrencies be blocked.
In the circular issued by the Central Bank for commercial banks last week, it was requested that the bank accounts of two individuals named Nnamdi Francis Okereke and Nwaorgu Kingsley Chibuzor and a company called TVS Hallmark Service Limited be frozen.
Financial institutions in Nigeria cannot work with cryptocurrency trading platforms due to the ban introduced in February. The Central Bank has instructed to identify people who trade crypto through banks or other financial institutions.
The Central Bank of Nigeria, which introduced the ban on cryptocurrencies to financial institutions to prevent illegal transactions and other risks, did not impose a direct ban on the use of cryptocurrencies. Nigerians to use cryptocurrencies after ban peer-to-peer (P2P) turned to working platforms.