Luno is aware of the circular issued by the Central Bank of Nigeria advising financial institutions in the country to close bank accounts held by cryptocurrency service providers.
In light of this, Luno is pausing Naira deposits while we seek further clarity from the authorities. Withdrawals will continue to be processed, but may take longer than usual. Please check the status page for updates to our service. All customer funds are completely safe.
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 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.