Central Bank of Nigeria (CBN) governor, Godwin Emefiele, says digital currency “will come to life even in Nigeria” just a few months after the central bank ordered banks to stop serving the crypto industry. While acknowledging his country’s position as one of the leading crypto markets in the world, Emefiele however insists his organization is still conducting its investigation and will “make our data available.”
Governor Says Many Nigerians Have Embraced Cryptos
Meanwhile, a report quotes the governor expressing his displeasure at the fact that many Nigerians have embraced cryptocurrencies. He 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.
As several reports have shown, the CBN’s February 6 directive to banks appears to have failed in its objective. Nigerian interest in cryptocurrencies and other emerging fintech continues to grow. For instance, Bitcoin.com News recently reported that peer-to-peer cryptocurrency trade volumes in the country had surged while interest in bitcoin (BTC) remains one of the highest in Africa.