In 2020, Nigerian banks were banned from servicing crypto firms by the Central Bank of Nigeria (CBN) and late last year, the ban was lifted and CBN released guidelines for banks on digital assets, this shows that at least the regulatory body of the country is softening their stringent stance on crypto.
Does that mean financial institutions in Nigeria can now trade cryptocurrency?
It will interest you to know that since the ban, Nigerian's interaction with crypto never dropped but rather increased as the understanding of those that are already in the space is towards P2P transactions which no one can stop which is why the introduction of the first crypto (Bitcoin).
The lifting of the ban and the guidance just released don't lift restrictions for Nigerian banks to hold or trade cryptocurrencies on their own behalf. However, there are a lot of ways to trade and hold cryptocurrency decentrally.
At Airhawk Project, the protection of our community members is important to us and the comfortability of our community is one of our core values while we educate them on how to secure and protect their funds. We also provide P2P exchange directly to your local bank account, so you don't need to worry about where to trade your HIVE or HBD.
Do you own naira and want to start your journey with Hive by purchasing some crypto, reach out to us and we will support you.
Do you own Hive or HBD and thinking of the best way to trade it for Naira, visit us on our Discord Server.