Cryptocurrency ban: It’s our responsibility to protect Nigerians – Emefiele


The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele told the Senate that the ban placed on cryptocurrency transactions was a step to protect Nigerians involved in banking.

Emefiele explained the rationale behind the CBN’s directive to commercial banks to stop accounts meant for cryptocurrency.

The CBN Governor, who appeared before the Joint Senate Committee on Banking, Insurance and Financial Institutions and Capital Market and ICT on Tuesday, noted that banking anywhere is about transparency, stating that Nigerians should be happy about the ban.

According to him, Nigerians who have nothing to hide shouldn’t complain about the apex bank’s decision, noting that cryptocurrency was a currency issued by largely unknown, unregulated elements using computer that…



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