Earlier last month, there has been an uproar from many about Nigeria's Central bank on its decision on cryptocurrency among Nigerian citizens. This led to panic among cryptocurrency investors in Nigeria, as the CBN directed that trader's accounts in Nigerian banks should be closed.
In a recent report released on March 22nd, the CBN says they are not discouraging citizens from trading or making use of Bitcoin. But it only told the banks to close accounts that had traded cryptocurrency
https://www.coindesk.com/nigeria-central-bank-bitcoin
If the citizens are free to trade cryptocurrencies, how will it be possible without making a transaction to or with their local banks? Of course, it might be possible with the P2p transaction. But what is the need of encouraging them, when you will still close their accounts?
Now my question is, why all this confusion? Isn’t the CBN confusing Nigerian crypto traders?
I feel they didn’t think this through before releasing their ban statement in February with their wild claims.