Cash withdrawals will not be possible for virtual and digital assets accounts in Nigeria, says CBN

NIGERIA — Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central of Nigeria (CBN) has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. It revealed this in a new ‘Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers.’ According to the bank, an account opened under its new guidelines will only be used for transactions on virtual/digital assets and not for any other purpose... punchng.com