This is a common confusion. The CBN's February 2021 letter directed Nigerian banks to stop facilitating crypto transactions that's restriction on banks, not on individuals holding or trading crypto. Holding Bitcoin remained legal throughout. The December 2023 reversal opened the bank-fintech rails back up. Today (2026), Bitcoin is legal to hold, trade, and convert via platforms.
No. Bitcoin has never been banned in Nigeria. The 2021 CBN restriction limited bank-mediated crypto transactions specifically; that restriction was reversed in December 2023.
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