Nigerian lawyer: Ban on cash withdrawals from accounts operated by VASPs may violate CBN’s cashless policy

Nigerian fintech lawyer Ihenyen stated that the new Central Bank of Nigeria (CBN) guidelines prohibit the withdrawal of cash from accounts operated by virtual asset service providers (VASPs), which seems reasonable and understandable. However, the lawyer believes that a complete ban on cash withdrawals from accounts operated by VASPs may conflict with CBN's own cashless policy.

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