Tag: central bank of nigeria

Nigeria’s Senate Summons Central Bank Chief to Explain Crypto Ban
Crypto News

Nigeria’s Senate Summons Central Bank Chief to Explain Crypto Ban

Nigeria’s Senate has summoned the country’s top financial regulators for a briefing after the central bank ordered local financial institutions to stop providing services to crypto companies and users last Friday.The Nigerian Tribune reported Thursday the Senate has mandated its banking committee to invite the governor of the central bank (CBN), Godwin Emefiele, and the director general of the Nigerian Securities and Exchange Commission, Lamido Yuguda, to appear at a time to be determined and explain the opportunities and threats of cryptocurrency. The Senate session discussing the issue was live-tweeted on the Senate’s official Twitter page.Last week’s CBN directive caused an uproar on social media, while local crypto advocates wrote to the bank asking for clarification on th...