The Nigerian Blockchain Association has recently expressed its dissatisfaction with the Central Bank of Nigeria (CBN) and its failure to implement a crypto strategy. According to the Association, the CBN’s failure to engage with the blockchain industry has stifled innovation and reduced the potential of the Nigerian blockchain industry to reach its full potential. The Association argued that the CBN’s decision to ban banks from dealing with cryptocurrency exchanges was a “misguided policy,” as this move will only hurt innovation and create a “regulatory vacuum” for digital assets. They also urged the CBN to reconsider this policy and allow banks to engage with the industry which would foster innovation and promote “economic advantage and growth.”
