CBN Governor ‘Under Attack’ From Nigerians After What He Said About Cryptocurrency


Nigerians have tackled and disagreed with the governor of the Central Bank (CBN) Godwin Emefiele after a video of him describing cryptocurrencies as money created out of thin air emerged online.

The CBN governor in his speech also submitted that users of cryptocurrencies operate in an electronic dark world so they can’t be traced.

He added that those who use it do not want a trail and this makes financial regulators ‘scared’ of cryptocurrencies and their users, hence the need to regulate its usage.

It will be recalled as previously reported by Newspot that the CBN recently ordered banks in the country to shut down the accounts of cryptocurrency traders.


The CBN in its directive, told Deposit Money Banks (DMBs), Other Financial Institutions (OFIs), and Non-Bank Financial Institutions (NBFIs) local financial institutions to stop any transactions in crypto or facilitating payments for crypto exchanges.

The apex bank in the circular signed by Director of Banking Supervision, Bello Hassan, and Director, Payments System Management Department, Musa I Jimoh warned that disobedience to the directive will attract sanctions.

Explaining why it banned cryptocurrencies, the CBN said it is based on its determination to protect Nigeria’s financial system from activities of “fraudsters and speculators,” noting that its directive is in the best interest of Nigerians.

However, after the video of what the CBN governor recently said about cryptocurrencies during a briefing went viral, Nigerians have taken to Twitter to mock him and the government.

Below is the video and some reactions from Nigerians.

Source: Newspot

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