Central Bank of Nigeria began blocking bank accounts of cryptocurrency companies

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The Central Bank of Nigeria sent instructions to the country’s commercial banks to block the accounts of a cryptocurrency company and two individuals who are accused of trading digital assets.

According to the local Peoples Gazette, the circular lists accounts held by TVS Hallmark Service Limited and two Nigerian nationals, Nwaorgu Kingsley Chibuzor and Nnamdi Francis Okereke. They are accused of carrying out digital asset trading.

The document, signed by the director of the Central Bank of Nigeria for the supervision of banks, notes that the funds stored in the accounts of this company and citizens must be frozen. Previously, similar instructions have already been issued in relation to several companies, however, then it was about the provision of asset management services without an appropriate license.

Recall that in February of this year, the Central Bank of Nigeria banned commercial banks from providing services to cryptocurrency companies. Later, the regulator issued a statement in which it emphasized that a ban on digital assets in the country was not introduced and citizens can continue to interact with cryptocurrencies.

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