Politics
Nigerian Government Plans To Remove Naira From Peer-To-Peer Platforms
Nigerian Government Plans To Remove Naira From Peer-To-Peer Platforms....KINDLY READ THE FULL STORY HERE▶
The decision to remove the Naira from peer-to-peer (P2P) exchanges has been announced by the federal government. Emomotimi Agama, the Director General of the Securities and Exchange Commission, disclosed this during a virtual conference with blockchain stakeholders held on Monday. This move is expected to be part of a series of regulations set to be implemented in the near future.
The primary objective behind this decision is to address the manipulation of the local currency’s value within the foreign exchange market. Agama emphasized the necessity of this action to safeguard the integrity of the space, stating, “The delisting of the naira from the P2P platforms is imperative to mitigate the ongoing level of manipulation.”
During the meeting, Agama reiterated the SEC’s dedication to collaborating with all stakeholders and highlighted the commission’s ongoing efforts to review guidelines aimed at fostering best practices. He also voiced concerns regarding market players manipulating the Naira’s value and underscored the commission’s endeavors to foster global credibility within the crypto environment through collaborative measures.
The announcement by the SEC DG comes in the wake of a recent directive issued by the Central Bank of Nigeria to fintech firms, instructing them to advise their clients against engaging in crypto transactions. Regulatory bodies in the country have intensified their oversight of cryptocurrency exchanges, resulting in the largest cryptocurrency exchange, Binance, halting its Naira services on March 8th.
For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite
For inquiries only, contact us at omoikirodahoshiobugie@gmail.com, 08075806790 (WhatsApp only). For paid articles covering content related to shows, music promotion, asylum letters, concerts, politics, advertisement hit up the Whatsapp number 08075806790.
Source: Bushradiogist
Breaking: Estevao Hamstring Injury Raises Alarm Over Possible World Cup Absence
Fresh Shake-Up In Government As Bola Tinubu Seeks Senate Approval For Darma, Yuguda Economic Appointment
Inside PDP Rift: Wike-Backed Faction Unveils Fees For Presidential Form, Picks Primaries Date
Breaking: Gift Orban Transfer Plan Falls Through As Verona Opts Out Of Permanent Move
Coup Plot Trial: One Defendant Arrives Early As Others Await Arraignment In High-Profile Case
Breaking: Federal Government Of Nigeria Bans Cement Importation, Releases Full List Of Restricted Goods
Supreme Court Shocks Kano Emirate Case, Adjourns Hearing Till 2027
Breaking: Complete List Of Charges Filed Against Timipre Sylva And Alleged Coup Network Exposed
Here’s What Happened” — Ex-Army Chief Buratai Speaks On Borno Airstrike Tragedy
