Our commercial and microfinance banks are subject to decisions made by the CBN and the CBN in like manner follow the rule established by the president. Before cryptocurrencies can be considered as an asset for loan first it is not recognized as a legal tender and the regulatory framework eased. It will take a digital president who understands the revolution going on around the world to come up with a stand on the laws governing crypto currency in Nigeria.


We could recall in 2021 banks were  banned from facilitating crypto transactions (CBN’s) directives. Even though the ban has eased, some banks still avoid crypto related transfers to stay on the safe side of unclear laws.