Senate Summon CBN Governor, Others Over Crypto Ban

Senate Summon CBN Governor, Others Over Crypto Ban

Godwin Emefiele, The Governor of Central Bank of Nigeria (CBN) will have no choice than to appear before the Senate Committees on Banking, Insurance and Other Financial Institutions, ICT and Cyber crimes and Capital Market over the recent ban on Cryptocurrency in the country.

This is because the senate has invited him and The Director General of Securities and Exchange Commission (SEC), Lamido Yuguda, to meet with it’s joint committee on the matter.

The motion which titled “CBN’s decision to stop Financial Institutions from transacting in Crypto currencies and matters arising therefrom” was sponsored by Senator Istifanus Dung Gyang, (Plateau North) and Senator Adetokumbo Mukhail Abiru, (Lagos East).

According to Senate, the outcome of the meeting will determine the opportunities and threats of the cryptocurrency on the nation’s economy and security.

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