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What鈥檚 Nigeria鈥檚 beef with cryptocurrency?

Nigerian banks are closing down accounts used to trade cryptocurrencies, but some Nigerians are up in arms over this move. What exactly is behind this ban?

Is Nigeria done with cryptocurrencies?

For the last couple of years, Nigeria has built a reputation as one of the largest cryptocurrency markets in the world.

On social media, there鈥檚 no shortage of 鈥渞ags to riches鈥� stories: people who, having joined the cryptocurrency bubble, made good money in the process.

But the Central Bank of Nigeria is worried about the legality of this trade, as well as its lack of transparency and regulation.

So, it has asked banks to close down cryptocurrency accounts 鈥� which has angered many of the 鈥渃rypto-evangelists鈥� involved in the trade.

Could this be the end of cryptocurrencies in Nigeria?

Hosted by Alan Kasujja (@Kasujja on Twitter)

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