Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, ...
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best interests of Nigerians.” Crypto Not Money Immediately following the announcement of the CBN prohibition, Nigeria’s regulated financial institutions began to sever ties with crypto traders and exchanges. However, following an outcry over the move, some supportive members of the Nigerian....
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Central Bank of Nigeria (CBN) governor, Godwin Emefiele, says digital currency “will come to life even in Nigeria” just a few months after the central bank ordered banks to stop serving the crypto industry. While acknowledging his country’s position as one of the leading crypto markets in the world, Emefiele however insists his organization is still conducting its investigation and will “make our data available.” Governor Says Many Nigerians Have Embraced Cryptos Meanwhile, a report quotes the governor expressing his displeasure at the fact that many....
The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate by some professionals in that country is unfair and unfortunate. The CBN governor says the parallel foreign exchange market only accounts for a share of the market that does not exceed 5%. He also adds that this market is popular with corrupt individuals because it enables them to facilitate their illegal activities. Parallel Market Tainted Emefiele’s remarks were prompted by reports in late November that the local Naira currency has plunged to 1:480 against the....
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa. Nigeria to Launch CBDC in Days Emefiele’s reassurances to Nigerians follow the CBN’s deferment of the e-naira launch to an unknown date. Sources disclose Emefiele said on Thursday the e-naira CBDC will make Nigeria “one of the first countries in Africa to....
A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to Banks The remarks by Lamtek, who spoke on behalf of the CBN governor Godwin Emefiele, follow the central bank’s February 5, 2021, directive which prohibited banks from facilitating crypto-related....
Emefiele said the Nigerian government will do its best to prevent crypto from being used to finance illicit activities. At a 279th meeting of the Monetary Policy Committee in Abuja, Central Bank of Nigeria Governor Godwin Emefiele expressed confidence that cryptocurrencies like Bitcoin (BTC) will be legal in the country, Business Insider reports Wednesday.Emefiele did not directly mention a decision to reverse the CBN’s February ban of institutions from buying and selling crypto, but noted that the bank has been investigating the industry:“We are committed in the CBN, and I can assure....