Cryptocurrency is not legitimate money, says Nigeria s central bank governor Nigeria’s central bank is doubling down on its anti-cryptocurrency stance. 6223 Total views News
Godwin Emefiele, governor of the Central Bank of Nigeria, has defended the apex bank’s decision to ban banks from servicing cryptocurrency exchanges in the country.
Appearing before a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, Emefiele remarked that the CBN ban was in the best interest of Nigerians.
According to a report by media outlet Punch, while addressing the Senate committee, Emefiele remarked:
“Cryptocurrency is not legitimate money. Cryptocurrency has no place in our monetary system at this time and cryptocurrency transactions should not be carried out through the Nigerian banking system.”
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