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Crypto: Senate summons CBN governor

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: February 11, 2021
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1 Min Read
Godwin Emefiele
Governor of the CBN, Godwin Emefiele
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The Senate has summoned the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele to brief its committees on the opportunities and threats of cryptocurrency on the nation’s economy.

The lawmakers made the resolution following a motion titled: “CBN’s decision to stop Financial Institutions from transacting in Cryptocurrencies and matters arising therefrom”, as sponsored by Senator Istifanus Dung Gyang, (Plateau North) and Senator Adetokumbo Mukhail Abiru, (Lagos East).

The red chambers of the National Assembly called for caution pointing out that while cryptocurrency has its negative sides and it has become the fastest-growing form of transaction all over the world.

They argued that technology has changed the way business is conducted in Nigeria and the country cannot run away from cryptocurrency. What has required some of them to say, is regulation.

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ByMuhammad A. Aliyu
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Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
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