CBN to approve Cryptocurrency & Blockchain Technology

The Central Bank of Nigeria (CBN) sequel to the setting up an industry committee to look into and articulate a road map for Blockchain & Cryptocurrency regulation has reiterated that it will not hinder the use of digital currencies in Nigeria.  

The regulator in a recent brief with industry experts stated that an agreement has been reached to formally adopt its use in Nigeria.  

A call to the Fintech Association of Nigeria confirms this and it is expected that a regulatory framework for the same will be made available soonest. 

Technology disruptions will continue to drive engagements in the financial sector and this feat by the Central Bank will go a long way in enhancing Fintech initiatives in the industry.