Nigeria’s central bank is doubling down on its anti-cryptocurrency stance.
Godwin Emefiele, governor of the Central Bank of Nigeria, has defended the apex bank’s decision to ban banks from servicing cryptocurrency exchanges in the country.
Appearing before a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, Emefiele remarked that the CBN ban was in the best interest of Nigerians.
According to a report by media outlet Punch, while addressing the Senate committee, Emefiele remarked:
“Cryptocurrency is not legitimate money.