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CBN
The CBN may need to look at the implication of this policy holistically while carrying stakeholders along.
Moghalu said Nigerians trade in cryptocurrencies because it protects them from the fluctuations in the value of the naira.
Mr Moghalu has stated that CBN's ruling does not criminalize the use and trade of cryptocurrencies in Nigeria.
Crypto pundits believe the action taken by the CBN was rather detrimental to the growing industry.
The exchange rate between the naira and the dollar appreciated closing at N396.17/$1 at the NAFEX (I&E Window).
The CBN explained in detail its directive to banks to desist from transacting in and with entities dealing in cryptocurrencies.
The CBN is said to have been warned by the FBI on the activities of fraudsters using cryptos to illegally bring in funds into the country.
The recent crypto prohibition by the CBN has stirred the reactions of Nigerians on social media.
A legal analysis of CBN’s decision to prohibit banks from facilitating crypto-related transactions through the banking system.
The Federal Government's Special Concession Account has netted the sum of N2,400,689,340.
The exchange rate between the naira and the dollar depreciated substantially closing at N397.63/$1 at the NAFEX window.
The exchange rate between the naira and the dollar depreciated closing at N395.50/$1 at the NAFEX on February 3.