The Central Bank of Nigeria (CBN) has refuted claims of issuing a recent directive to Deposit Money Banks, Non-bank Financial Institutions, and other Financial Institutions in the nation regarding actions against cryptocurrency-related accounts and customers.

A circulating statement, dated April 23, 2024, purportedly attributed to the CBN’s banking supervision department, alleged that the apex bank instructed commercial banks and other financial entities to refrain from engaging in cryptocurrency transactions or facilitating payments for such activities.

According to the purported statement, such transactions were deemed illegal, and banks were instructed to identify and freeze accounts associated with cryptocurrency trading for a six-month period by placing them on Post No Debit (PND) status. It further claimed that the CBN was undertaking investigations into economic issues within the country, targeting individuals clandestinely involved with cryptocurrency platforms like Bybit, Kucoin, OKX, and Binance.

However, the CBN swiftly responded with a succinct statement on Wednesday, disavowing any issuance of such directives. The apex bank explicitly labeled the circulated statement as false and urged the public to disregard its contents.

In its advisory, the CBN encouraged individuals to seek verified information from its official website.

“This information does not originate from the Central Bank of Nigeria.

“For accurate and authentic updates, please visit the official website of the Bank at https://cbn.gov.ng,” the CBN said as it shared a copy of the fake statement on its official X account.