'Cryptocurrency is not legitimate money,' says Nigeria's central bank governor

Cointelegraph

Published Feb 24, 2021 09:40AM ET

Updated Feb 24, 2021 11:20AM ET

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.

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