Nigeria is known to have one of the biggest and fastest growing bitcoin markets in the whole of Africa. The authorities in the country have apparently caught wind of this and now want to examine the phenomena and decide what they can try and do about it.
Nigerian Lawmakers Want to Know How to Control BitcoinThe Senate of Nigeria, the upper house of the Nigerian legislature, has ordered an investigation into bitcoin trading in the country. The Committee on Banking and Other Financial Institutions received two weeks to “investigate the viability of bitcoin as a form of investment” and “come up with recommendations on how to control its uses and trade,” Deputy Senate President Ike Ekweremadu explained.
The lawmakers also asked the Central Bank of Nigeria (CBN) the Nigeria Deposit Insurance Corporation (NDIC) and the Nigerian Stock Exchange (NSE) to launch a campaign against the risks of trading bitcoin. The Senate urged these institutions to issue clear statements in all the dialects spoken in Nigeria about the dangers of storing value with cryptocurrency. This came after last week when CBN Governor, Godwin Emefiele, said that: “Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful.”
More info -
https://news.bitcoin.com/senate-of-nigeria-launches-probe-of-bitcoin-trading-in-the-country/
