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Daily Post Nigeria
Published
The Nigerian Senate on Thursday detailed its Committee on Banking, Insurance and Other Financial Institutions to interface with the Central Bank of Nigeria to proffer solutions to the ban on Cryptocurrency.
The decision was reached after a rigorous debate on a motion titled: “CBN’s decision to stop Financial Institutions from transacting in Cryptocurrencies and matters arising therefrom.”
The motion which was sponsored by Senator Instifanus Dung Gyang representing Plateau North Senatorial district pointed out that the ban elicited very sharp reaction from Nigerians, hence, the need for legislative intervention.
“Notes that the CBN has issued a directive stopping all Financial Institutions from transacting in Cryptocurrencies. This is a follow-up of its earlier directives in January 2017 and February,.2018 which forbade Banks to use, hold, trade and transact in Cryptocurrencies.”
Daily Post Nigeria
Published
The passage followed the recommendation by the Senate Committee Chairman on Appropriation, Senator Jibrin Barau.
The proposal which was presented to the joint session of upper and lower legislative Chambers by President Muhammadu Buhari on 8th October, 2020 has been receiving legislative attention with the aim of passing into law before the end of the year.
Details later…..
Published
Makinde announced the appointments in a statement made available to DAILY POST on Friday.
The governor announced that he has appointed a former chairman of the Academic Staff Union of Universities (ASUU), University of Ibadan branch, Professor Ayodeji Omole, as the Pro-Chancellor of the University.