Economy---Politics
February 07, 2021
Why CBN Needs To Manage The Risk Of Cryptocurrencies - Kingsley Moghalu

Following the recent directive by the Central Bank of Nigeria restricting banks from carrying out transactions on "Cryptocurrencies", the Channels TV Sunday Politics for February 7th, 2021  anchored by Seun Okinbaloye featured Prof. Kingsley Moghalu (Former Deputy Governor, CBN Financial System Stability).

 

Professor Moghalu said the CBN directive does not criminalize cryptocurrency, but restricts banks from using it as a form of exchange in the financial services segment.

 

He called on the CBN to focus on managing the risks of cryptocurrency, considering the reality that Nigeria is amongst the top 10 markets in the globe and has traded $500m worth of bitcoin in the last 10 years.

 

Watch Video Courtesy Channels TV


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Related News

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5.     Can Bitcoin Become the Next Global Reserve Currency?

6.     Banks and Thrifts May Participate in INVN and Use Stablecoins for Payment Activities

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