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Nigeria Urged to Clarify Cryptocurrency Regulations

Cryptocurrency adoption in Nigeria continues to surge. However, the lack of specific regulations on virtual assets has created legal ambiguity. With proper guidelines and compliance frameworks in place, cryptocurrencies can help curb financial crimes.

Key Takeaways

  • A&D Forensics training crypto compliance specialists to help Nigerian banks comply with new guidelines.
  • Banks are advised to thoroughly vet crypto exchanges to prevent being complicit in financial crimes.
  • The Nigerian government is urged to intensify efforts to develop comprehensive crypto legislation.
  • The Central Bank of Nigeria overturned its crypto ban and issued stringent requirements for crypto businesses.

Training Crypto Compliance Specialists

A&D Forensics completed training its fifth cohort of crypto compliance specialists. The course covers skills to prevent financial crimes related to cryptocurrency, including money laundering, hacking, and sanctions evasion. It also informs about the applicable compliance laws and regulations [1].


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