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SENATE WADES INTO BAN ON CRYPTO CURRENCY

The Senate has resolved to invite the Governor of the Central Bank of Nigeria Godwin Emefiele over the apex bank’s ban on Crypto Currency transactions by Nigerian Financial Institutions.

The Senate through a motion by Senator Istifanus Gyang mandated it’s joint Committee on Banking, Insurance and other financial institutions, ICT and Cyber crimes and capital market to meet with the CBN Governor to brief it on the opportunities and dangers Crypto Currency poses to Nigerian economy and Security.
The Central Bank of Nigeria had anchored it’s decision on the need to safeguard the Nigerian economy from what it described as the adverse effects of the Crypto currency regime on the Nigerian economy.

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