Busha’s Official Statement on the Recent CBN Circular on Crypto.

Dear Busha Fam,

We are aware of the circular issued by the Central Bank of Nigeria advising financial institutions in the country to restrict service to bank accounts held by cryptocurrency service providers.

We understand that you have valid concerns and so we have some updates which will hopefully answer your questions.

• On your Crypto Assets: All cryptocurrencies in your wallet are 100% safe and you are free to swap them. There is no cause for alarm. We have enabled coin swap for all crypto so you can swap your crypto to other cryptocurrencies freely. We have also added more pairs such as XRP/BTC & LTC/BTC
• On Trading: Unfortunately, in compliance with the directive, we had to temporarily disable the selling of Crypto to Naira, however, you can still buy crypto with the Naira balance in your wallet while we monitor the situation as our payment processors are affected.
• On NGN Deposits & Withdrawals: We have disabled this in line with the directive and will share an update soon.

You do not need to take any action on your account. We are keeping an eye on the situation and will constantly update you on all incoming developments as soon as we receive further information via all our communication channels.

We are working closely with our stakeholders to ensure that normalcy is restored. We know this is disappointing news, but we are left with no other options at this time.

If you have further questions, please reach out to us via email, Instagram, or Twitter.

Yours in Crypto,

The Busha Team.