Nigerian Senators Outraged at Central Bank Bitcoin Ban

nigeria senate

Nigerian lawmakers have strongly opposed the recent action by Nigeria’s Central Bank, demanding it appears in front of the senate to explain itself. “I am strongly against the outright ban of this medium of exchange by the Central Bank of Nigeria (CBN). What the CBN should be telling Nigerians are the regulations put in place to regulate the activities of the operators,” said Solomon O. Adeola, a Nigerian lawmaker, adding:“All over the world, these cryptocurrencies are regulated. The operators of this so called currency are everywhere.I would indulge this Senate to allow the regulators also to be invited so that they can also tell the Committees their own position concerning the operation of cryptocurrency in Nigeria.” Other lawmakers agreed, with Senator Sani Musa stating bitcoin has made their fiat currency, Naira, “useless” or worthless. He said: “Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns…

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