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Title: Reaction to Central Bank of Nigeria (CBN) Post by: Christabel247 on February 08, 2021, 09:59:07 AM Greetings to all.
Today I came with a little story about the recent reaction to CBN on 5-02-2021 to ban cryptocurrency deposit to bank. And furthermore, Fm VP. Atiku, also react twitter against CBN and to Federal Government the reason why crypto currency should not be ban in the country This article fully explain https://veednews.com/we-need-to-open-up-our-economy-not-close-it-atiku-abubakar-reacts-to-cryptocurrency-ban/ Today the CBN has fully detailed out the reason why the ban. Quote SEARCH Switch Nairametrics Nairametrics CRYPTOCURRENCYCBN explains why it banned banks from dealing with Cryptocurrencies The CBN explained in detail its directive to banks to desist from transacting in and with entities dealing in cryptocurrencies. Published 13 hours agoon February 7, 2021By Olumide Adesina CBN reveals framework for the N75 billion Youth Investment Fund, Economic Growth, CBN, Governor, Emefiele, CBN releases new capital base, sanctions for Microfinance Banks, Nigerian Banks broadly positive after naira devaluation, Naira hits N465 to $1, Central Bank begins disbursing $100million to hit at currency speculators, CBN appoints 3 Pre-Shipment Inspection and 2 Monitoring Agents for non-oil exports SHARETWEET The Central Bank of Nigeria, in a press release dated, the 7th of February 2021 has explained in detail the reason for its directive to Deposit Money Banks (DMBs) and other financial institutions to desist from transacting in and with entities dealing in cryptocurrencies. Issuing a press statement, the CBN said it felt the need to provide further justifications about its position to the general public. The press statement began with the CBN detailing the nature of cryptocurrencies stating that “Cryptography is a method of encrypting and hiding codes that prevent oversight, accountability, and regulation. While there are a number of cryptocurrencies now in circulation, Bitcoin was the first to be introduced in 2009, and now accounts for about 68 percent of all cryptocurrencies.” Read more details about https://nairametrics.com/2021/02/07/cbn-explains-why-it-banned-banks-from-dealing-with-cryptocurrencies/ What is your intake about the action of CBN? Title: Re: Reaction to Central Bank of Nigeria (CBN) Post by: boyptc on February 08, 2021, 03:06:08 PM You should've removed those unnecessary words on the quote. It's truly a copy paste from the article including those "share tweet" which shouldn't be included although you have provided the source.
What's wrong on this ban is that they see it as a "hidden code". Why they should do that if that's what they think instead of being against the centralized banking. |