I can Assure Everybody that Digital Currencies Will Come to Life Even in Nigeria, Says Governor, Central Bank of Nigeria

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The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that digital currencies will be made available in Nigeria soon. The governor however did not state when or in what form they will be made available.

Speaking during the 279th IMPR meeting in Abuja, the Governor voiced his concerns around digital assets while also saying that the regulator is aware of crypto activities within the country.

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SEE ALSOThe Central Bank of Nigeria Warns Financial Institutions Against Facilitating Crypto Payments with Crypto Exchanges

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According to local news site, NairaMetrics, the Governor said:

“We have carried out our investigation and we found out that a substantial percentage of our people are getting involved in cryptocurrency which is not the best. Don’t get me wrong, some may be legitimate but most are illegitimate.

Under cryptocurrency and Bitcoin, Nigeria comes 2nd while in the global side of the economy, Nigeria comes 27th. We are still conducting our investigation and we will make our data available.”

                        – Governor, Central Bank of Nigeria (CBN)

Mr. Godwin went on to highlight the recent market collapse following the Elon Musk tweet but also assured the audience saying:

“We are committed in the CBN and I can assure everybody that digital currency will come to life even in Nigeria.”

The Governor’s statement comes 4 months since the CBN banned all financial and deposit-taking firms from dealing with cryptocurrencies and crypto exchanges in the country.

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RECOMMENDED READING: Reactions from Tech and Crypto Heads Following the Regulatory Warning by the Central Bank of Nigeria on Crypto

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