CNB Ban On Cryptocurrency In Nigeria: Elon Musk, Davido, Bill Gates And Other Celebrities That Support Cryptocurrencies

Cryptocurrency was recently prohibited in Nigeria as a result of the memo released by the central bank of Nigeria reminding commercial banks and the general public that it is now an offense to transact in cryptocurrency in the banking hall.

The CBN ban on cryptocurrency means that no bank will henceforth accept any money or transaction that has to do with cryptocurrencies such as Bitcoin, Dogecoin, Ethereum and other crypto.

CBN believes that crypto is not regulated and people are using it for illegal and criminal activities such as “yahoo” which means scamming or defrauding other people. Also, the Apex Bank stated that people perpetuate money laundry and sponsor terrorism through cryptocurrencies.

Though Nigeria is not the only country that has given cryptocurrency an iron hand. Countries like Algeria, Bolivia, Ecuador, Bangladesh, Nepal and Macedonia had in one point in time declared crypto illegal.

Some celebrities around the world has shown support to cryptocurrencies. Even in Nigeria, Davido; a popular musician, declared on his Twitter page 3days before the CBN ban that he is thinking of starting a Bitcoin company.

CNB Ban On Cryptocurrency
Some of the the celebrities & prominent persons that support crypto

Below are some of the celebrities and prominent personalities that has shown support for crypto:

Bill Gates

Bill Gates is the founder of Microsoft and one of the richest man on earth. He likes to invest in crpto. In an interview conducted in 2014, he said, “Bitcoin is better than currency. This is because you don’t need to be physically present to make a transaction. He went further to state that bitcoin is better for transactions that involves large amount”.

Elon Musk

elon musk bitcoin


He is prominent for making electric car and his plan to sending people to Mars. Elon Musk likes twitting often in support of cryptocurrencies.

Lionel Messi

In late 2017, Lionel Messi became brand ambassador for Israeli Company Sirin Labs.
The company is prominent for producing the world’s first crypto smartphone. The footballer promotes it in his Instagram handle.

Floyd Mayweather


This great boxer in a tweet in 2017 said that he spends bitcoin, ethereum and other cryptocurrencies at Beverly Hills. He also said people can call him Floyd Crypt Mayweather.

Mike Tyson

Mike Tyson produced Bitcoin ATMs. He also launched Bitcoin Wallet in collaboration with Bitcoin Direct with the same branding as the ATM.

Gwyneth Paltrow

Paltrow is an advocate of crypto. In fact, she is the face of bitcoin wallet – Abra, and she professionally advises people on crypto.

Snoop Dogg


Snoop Dogg sells album on Bitcoin. Although it is not clear how many album he has sold.
Based on bitcoin value today, he must have earned roughly $1,000 per album. The artist also appeared at one XRP Community Night crypto party, according to Coin Shark.

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