{"id":27898,"date":"2021-02-06T08:49:02","date_gmt":"2021-02-06T07:49:02","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=27898"},"modified":"2021-10-07T00:24:04","modified_gmt":"2021-10-07T00:24:04","slug":"cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/","title":{"rendered":"CBN directs financial institutions to close all accounts relating to crypto currency"},"content":{"rendered":"<p>By Tanko Mohammed<\/p>\n\n\n<p>The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to close all accounts relating to and to desist from dealing in crypto currencies as it is illegal.<\/p>\n\n\n<p>The apex bank stated this on Friday in a statement on its official website by Mr Bello Hassan, Director of Banking Supervision and Mr Musa Jimoh, Director of Payments System Management.<\/p>\n\n\n<p>It said that the warning was in furtherance of a 2017 circular which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs) Other Financial Institutions (OFIs) and the public about inherent risks in such transactions.<\/p>\n\n\n<p>\u201cFurther to earlier regulatory directives on the subject, CBN hereby wishes to remind regulatory institutions that dealing in crypto currencies or facilitating payment of crypto currency exchange is prohibited.<\/p>\n\n\n<p>\u201cAccordingly, all DMBs, NBFIs and OFIs are directed to identify persons transacting in, or operating crypto currency exchange within their systems and ensure that such accounts are closed immediately.<\/p>\n\n\n<p>\u201cPlease note that breaches of this directive will attract severe regulatory sanctions. This letter is with immediate effect,\u201d the CBN said.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-27898\" data-postid=\"27898\" class=\"themify_builder_content themify_builder_content-27898 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>By Tanko Mohammed The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to close all accounts relating to and to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by Mr Bello Hassan, Director of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[185,579],"class_list":["post-27898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-cbn","tag-cryptocurrency","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Tanko Mohammed The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to close all accounts relating to and to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by Mr Bello Hassan, Director of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-06T07:49:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-07T00:24:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"337\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/\",\"name\":\"CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel\",\"isPartOf\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg\",\"datePublished\":\"2021-02-06T07:49:02+00:00\",\"dateModified\":\"2021-10-07T00:24:04+00:00\",\"author\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\"},\"breadcrumb\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg\",\"contentUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg\",\"width\":600,\"height\":337},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thefreezonechannel.com\/old\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBN directs financial institutions to close all accounts relating to crypto currency\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/\",\"name\":\"The Freezone Channel\",\"description\":\"The Freezone Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\",\"name\":\"The Freezone Channel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"caption\":\"The Freezone Channel\"},\"sameAs\":[\"https:\/\/thefreezonechannel.com\"],\"url\":\"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/","og_locale":"en_US","og_type":"article","og_title":"CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel","og_description":"By Tanko Mohammed The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to close all accounts relating to and to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by Mr Bello Hassan, Director of [&hellip;]","og_url":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/","og_site_name":"The Freezone Channel","article_published_time":"2021-02-06T07:49:02+00:00","article_modified_time":"2021-10-07T00:24:04+00:00","og_image":[{"width":600,"height":337,"url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg","type":"image\/jpeg"}],"author":"The Freezone Channel","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The Freezone Channel","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/","url":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/","name":"CBN directs financial institutions to close all accounts relating to crypto currency - The Freezone Channel","isPartOf":{"@id":"https:\/\/thefreezonechannel.com\/old\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage"},"image":{"@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage"},"thumbnailUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg","datePublished":"2021-02-06T07:49:02+00:00","dateModified":"2021-10-07T00:24:04+00:00","author":{"@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3"},"breadcrumb":{"@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#primaryimage","url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg","contentUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2021\/01\/Emefiele.jpg","width":600,"height":337},{"@type":"BreadcrumbList","@id":"https:\/\/thefreezonechannel.com\/old\/cbn-directs-financial-institutions-to-close-all-accounts-relating-to-crypto-currency\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thefreezonechannel.com\/old\/"},{"@type":"ListItem","position":2,"name":"CBN directs financial institutions to close all accounts relating to crypto currency"}]},{"@type":"WebSite","@id":"https:\/\/thefreezonechannel.com\/old\/#website","url":"https:\/\/thefreezonechannel.com\/old\/","name":"The Freezone Channel","description":"The Freezone Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3","name":"The Freezone Channel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","caption":"The Freezone Channel"},"sameAs":["https:\/\/thefreezonechannel.com"],"url":"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/27898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/comments?post=27898"}],"version-history":[{"count":0,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/27898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media\/27758"}],"wp:attachment":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media?parent=27898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/categories?post=27898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/tags?post=27898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}