CBN Cryptocurrency Ban: Luno Users Celebrate Amazing News

CBN Cryptocurrency Ban: Luno Users Celebrate Good News

  • Top African crypto exchange Luno has announced that it is set to reinstate withdrawal and deposit functions for Nigerians
  • The company passed this information to users via mail on Thursday
  • Deposit and withdrawal of funds had been disabled since the CBN ordered banks to remove cryptocurrencies from their ecosystem

Popular cryptocurrency exchange Luno has revealed that Nigerians will soon be able to withdraw and deposit fiat currencies on its platform.

The news was disclosed in a mail that users received on Thursday saying

“We are pleased to announce that we have approved a solution to enable our customers to withdraw and deposit Naira again on Luno. This will be available on our platform in the coming weeks,”

The new stunning update comes only 8 months after all crypto exchanges in Nigeria stopped the withdrawal and deposit of funds.


This was as a result of the Central bank of Nigeria issuing an unexpected ban on cryptocurrency in the country.

The ban prevented banks and other institutions from carrying out withdrawal and deposits from cryptocurrency platforms.

The Apex bank had claimed that the digital assets were being used to sponsor terrorism and carry out money launder in the country.

Read also: BBNaija Season 6 Housemates Win $5000 Bitcoin in Patricia Challenge

Luno states that it is aware of the ban and discussions are being carried out with authorities to enable deposits and withdrawals.

Nigerians are expected to receive more updates in the coming days along with the launch date of the new means of deposit and withdrawals.

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