The Central Bank of Nigeria (CBN) has fined four Nigerian commercial banks totaling 814.3 million Nigerian nairas (approximately $2 million) for allowing crypto transactions.
Bloomberg‘of 6th of April According to the news dated CBNfor failing to comply with regulations that prohibit consumers from transacting in cryptocurrencies AccessBank, United Bank for Africa, Stanbic IBTC Bank and Fidelity Bank Nigeriain total 814.3 million Nigerian naira (approximately $2 million) fined him.
The central bankthe country’s largest bank by assets Access Bankfor not closing customers’ crypto accounts 500 million Nigerian naira when fined, United Bank for Africadue to a customer’s digital currency transactions. 100 million Nigerian naira fined him.
Moreover Stanbic IBTC Bankfor two accounts allegedly used for crypto transactions 200 million Nigerian naira penalizing CBN, Fidelity Bank Nigeriaif 14.3 million Nigerian naira He said he was fined.
In the news, the penalties of the central bank blocking the trading of cryptocurrencies due to the threat posed to the country’s financial system for the purpose of February 2021It was stated that he gave within the scope of the decisions taken in .
CEO of Stanbic IBTC Wole Adeniyisaid in a statement on the matter on an investor conference call. Although Stanbic IBTC complies with the central bank’s orders, it is possible that the sanctioned transactions may have passed through the system undetected. explained.
Penalties given, that the central bank has the ability to detect cryptocurrency transactions that commercial banks may have overlooked. also revealed.
CBNpast November to banks in the month Two people allegedly trading digital currencies and closing a company’s accounts had ordered.
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