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Senate summons CBN Governor, SEC boss on cryptocurrency ban

The Senate on Thursday summoned the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emeifele, and the Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda, to brief it on the opportunities and threats of the cryptocurrency on the nation’s economy and security.

It has therefore given its Joint Committee on Banking, Insurance and other Financial Institutions, ICT and Cyber Crime and Capital Market two weeks to interface with the CBN Governor and SEC DG and report back to plenary.

The upper chamber’s resolution was sequel to the adoption of a motion entitled “CBN’s decision to stop financial institutions from transacting in Crypto currencies and Matters arising therefrom”, jointly sponsored by Senators Dung Gyang and Adetokunbo Abiru.


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