Revelational Nuggets

Revelational Nuggets Provides trading comfort and trust between merchants and consumers of online goods and services

19/12/2024

At Cypher X our core values guide everything we do.

Join the community and be the first to know! Like, share, and follow for exclusive offers and early access

We do not struggle to Offer an Unparalleled Experience; It’s in usIn the light of our fully integrated suite of financia...
28/10/2024

We do not struggle to Offer an Unparalleled Experience; It’s in us

In the light of our fully integrated suite of financial and payment security solutions for both merchants and consumers around the globe

We bring proficiency to your enterprise and business of any level irrespective of place and time.

The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earl...
24/12/2023

The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.

This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the apex bank’s Director, Financial Policy and Regulation Department, Haruna Mustafa.

The circular is titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS).’
The apex bank stated that current trends globally have shown the need for crypto regulation.

It said, “The CBN, in February 2021 issued a circular restricting banks and other financial institutions from operating accounts for cryptocurrency service providers in view of the money laundering and terrorism financing (ML/TF) risks and vulnerabilities inherent in their operations as well as the absence of regulations and consumer protection measures.

“However, current trends globally have shown that there is a need to regulate the activities of virtual assets service providers (VASPs) which include cryptocurrencies and crypto assets.

Following this development, the Financial
Action Task Force (FATF) in 2018 also updated its Recommendation 15 to require VASPS to be regulated to prevent misuse of virtual assets for ML/TF/PF.

“Furthermore, Section 30 of the Money Laundering (Prevention and Prohibition) Act, 2022 recognises VASPs as part of the definition of a financial institution.

Became Cypher X Compliance and unlock limitless business opportunities on your online sales and services.
25/11/2023

Became Cypher X Compliance and unlock limitless business opportunities on your online sales and services.



Cypher X Escrow service provides trading comfort and trust between merchants and consumers of online goods and services....
25/11/2023

Cypher X Escrow service provides trading comfort and trust between merchants and consumers of online goods and services.



Address

103 Ada-George Road, Ada-George Road
Port Harcourt
5000257

Website

Alerts

Be the first to know and let us send you an email when Revelational Nuggets posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category