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Osinbajo faults CBN on cryptocurrency ban, calls for rethink

Olalekan Adetayo, Abuja
Vice-President Yemi Osinbajo on Friday faulted the decision of the Central Bank of Nigeria to prohibit deposit money banks. ....

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The uncertain future of cryptocurrencies in Nigeria

Punch Newspapers
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Chukwuemeka Fred Agbata Jnr.
In one of the previous articles on my ICT Clinic column, I expressed my concerns about the Nigerian government’s draconian policies which do not take its citizens into consideration. Needless to say, it has happened again!
The cryptocurrency community along with its ardent supporters are perplexed and equally enraged about the recent circular passed by the Central Bank of Nigeria on 5th February 2021.
Dated January 12, 2017, with ref FPR/DIR/GEN/C1R,06/010, the circular warned Deposit Money Banks, Non-Bank Financial Institutions, Other Financial Institutions, and individual citizens against the risk associated with transactions with cryptocurrency. ....

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Banning crypto accounts not solution to money laundering, terrorism financing – Blockchain architect

Charles Okaformbah is the Co-founder of VesselTrust and a blockchain solutions architect for a leading commercial financial institution. In this in. ....

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Senate summons Emefiele, SEC DG over Cryptocurrency ban

Sunday Aborisade, Abuja
The Senate on Thursday summoned the Governor of Central Bank of Nigeria, Godwin Emefiele, and Director General of the Secu. ....

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CBN can't ignore innovations, crypto ban shows we don't want growth–Financial market expert, Owolabi – Punch Newspapers

Punch Newspapers
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EVEREST AMAEFULE,
Mr Mayowa Owolabi, a financial market expert, trainer, trader and investor, dissects cryptocurrency and challenges the Central Bank of Nigeria to conduct enough research in order to come up with appropriate policies to guide the currency’s operations in the country
In
simple terms, what is cryptocurrency and how does it concern the man on the street?
Cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are built on decentralised networks based on Blockchain technology. The strength of cryptocurrency is in the structure model, which is Blockchain technology. To a man on the street, it is a value storage asset and exchange. For example, I may have a shoe to exchange for your car. A means of exchange enables us to make transactions. It is a payment option. As a currency, it is used. ....

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