The Federal Government has announced its intention to remove the naira from all peer-to-peer platforms.
According to The PUNCH, the Director General of the Securities and Exchange Commission, Emomotimi Agama, made this known during a virtual meeting with blockchain stakeholders.
He said the decision is aimed at addressing the manipulation of the local currency’s value in the foreign exchange market.
In recent months, regulatory authorities in the country have been investigating and closely monitoring cryptocurrency exchanges.
As a result, on March 8, the largest cryptocurrency exchange, Binance, ceased its naira services.
