CBN Governor Appears Before Senate Committee On Finance, Defends Ban On Crypto Currency Accounts.
Written by Boom Radio on February 23, 2021
Nigeria’s Central Bank Governor Has Been Defending the Bank’s Decision to Ban All Accounts Linked to Cryptocurrency Transactions, And That the Despite the Public Outcry, The Financial Regulator Is Not in A Popularity Contest.
Mister Godwin Emefiele Made the Comments While Honoring an Invitation of The Senate’s Joint Committees on Banking, Insurance, And Other Financial Institutions; ICT And Cybercrime; And the Capital Market.
According to Him, The Opacity of Financial Dealings Using Cryptocurrencies Threaten the Strength of Nigeria’s Financial Institutions.
The Decision of The CBN Is Being Hailed by The Securities and Exchange Commission, The Independent Corrupt Practices and Other Offences Commission and The Nigeria Financial Intelligence Unit.