The Central Bank of Nigeria CBN has ignored the uproar over a crackdown on cryptocurrencies, citing several reasons for the move, and ordering investigations into all accounts used in the transactions.

All companies involved in the trading of the currency will as well be investigated.

The apex bank on February 5 joined countries that have banned cryptocurrencies, asking banks and financial institutions to close accounts.

However, Nigeria’s former Vice President, Atiku Abubakar, has joined some youths calling on the apex bank to reverse the decision, arguing that the country couldn’t shut down its economy amid the pandemic.

WADR’s Usman Umar reports.