Bloomberg Nigeria’s central bank ordered deposit-taking banks and other financial institutions to immediately close accounts transacting in or operating cryptocurrency exchanges, saying such deals are “prohibited.” Failure to comply with the directive will result in “severe regulatory sanctions,” according to a circular sent to financial institutions and published on the central bank’s website. The country’s Securities and Exchange Commission said ...

Bloomberg Bank of America Corp. (BofA) pledged to add $10 billion to an affordable-homeownership program through 2025, tripling its initial commitment. The plan is aimed at low- and moderate-income communities, and may enable 60,000 individuals and families to purchase homes, the bank said in a statement. The program includes as much as $10,000 of assistance for down payments, as well as ...

Bloomberg European Central Bank President (ECB) Christine Lagarde predicted the euro-area recovery will pick up in the summer, while stressing that public authorities will have a difficult job weaning the economy off of emergency support. In an interview with French newspaper Le Journal du Dimanche, Lagarde expressed confidence in the region’s ability to emerge from the coronavirus crisis stronger, with ...