cryptocurrency in Nigeria, particularly among younger individuals. Although some use these digital assets for day-to-day transactions through apps, for the most part, they are bought as an investment, in an attempt to hedge against the unstable Naira. However, like many other central banks across the globe, the apex monetary authority of Nigeria has also expressed its opposition to digital currencies, owing to the risks associated with them.
Accordingly, in early-November, the Central Bank of Nigeria (CBN) instructed banks across the country to close the accounts of…
