Hope for crypto traders as Luno advices Nigerians after CBN ban on cryptocurrency.

One of the leading cryptocurrency exchanges in Nigeria, Luno, has assured its customers that their funds are safe.

This assurance was given after the Central Bank of Nigeria (CBN) ordered banks in the country to close the accounts of persons trading the digital currency.

According to CBN, cryptocurrency is still illegal in Nigeria. The apex said it will not allow those carrying out financial transactions to use the formal financial system to operate.

In a message to its customers on Friday, Luno informed its users that their investment remains safe, urging them not to make panic withdrawals.

“Luno will continue to operate as normal while we seek further clarity from the authorities.

“Some Naira deposit methods are currently affected, please check the status page for updates.

“Withdrawals are unaffected and will continue to be processed, but may take longer than usual.

“All customer funds are completely safe,” a statement from the organisation disclosed.

It further stated that, “There’s no need to take any action regarding your account at this time.”

“We will update our customers on all incoming developments as soon as we receive further information, and certainly well in advance should withdrawals be affected,” Luno assured.

“Luno has always worked closely with regulators in Africa and all regions in which we operate, and will continue to do so.

“Nigeria’s regulators have taken a pragmatic and forward-looking approach to cryptocurrency in the past and we’re confident that this issue can be resolved quickly, so Nigeria can continue to play a central role in the growth of cryptocurrency,” it said.