The Central Bank of Nigeria (CBN) has directed banks to disregard the initial ban on cryptocurrency which the apex bank announced two years ago.

Haruna Mustapha, CBN’s director of financial policy and regulation, disclosed this in a circular on Friday.

The apex bank said it is now providing guidelines and regulations for banks with regard to managing cryptocurrency in line with global trends to avoid its misuse, while urging banks to comply with the guidelines and regulations.