Cryptocurrency Ban: Senate summon CBN governor and DG of exchange commission

The senate house today seek for the presence of the central bank of Nigeria governor, Godwin Emefiele and the director general of the security and exchange commission, Lamido Yaguda in the house over the order the apex bank gave to other banks to restrict from cryptocurrency transactions

During plenary session of the house, a motion was raised by senator Senator Istifanus Gyang and Tokunbo Abiru which question the decision made by the CBN

The motion which was tagged “CBN decision to stop financial institutions from transacting in cryptocurrency and matter a rising there from” asked the committee on banking, Capital market, insurance and other financial institution, cybercrime and ICT to summon Emefiale and Yaguda which both are expected to brief the house committee and panels on the advantages and disadvantages of exchanging/transacting cryptocurrency in Nigeria Economic

Recall just few days ago, the apex bank order all commercial and non commercial banks operating in Nigeria to stop all transaction involving cryptocurrency and should close all account using their service for crytpo transaction

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