Senate Summons CBN Governor, DG SEC over Cryptocurrency ban

The Senate on Thursday summoned governor of the Central Bank of Nigeria Godwin Emefiele to shed more light on the recent ban on cryptocurrency.

The red chamber also summoned the director-general of the Securities and Exchange Commission (SEC) Lamido Yuguda over the ban.

It explained that the information that would emanate from the briefings from the two regulatory bodies would assist the Senate to “determine the opportunities and threats of the cryptocurrency on the nation’s economy and security.”

This resolution of the upper chamber was sequel to its consideration of a motion titled: “CBN’s decision to stop Financial Institutions from transacting in Crypto currencies and matters arising therefrom” at plenary.

The motion was sponsored by Senator Istifanus Dung Gyang, (Plateau North) and Senator Adetokumbo Mukhail Abiru, (Lagos East).

3 thoughts on “Senate Summons CBN Governor, DG SEC over Cryptocurrency ban

  1. I love that decision to of the red chember house, to summon cbn governor and sec about cryptocurrency ban and the effects on nation’s economy.

  2. One of the major constraint that is limitating our economy growth is unemployment. I guess crytocurrency will reduce the total numbers of unemployment in Nigeria.

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