Nigerian Central Bank Governor Says 'Digital Currencies Will Come To Life' But Fighting Volatile Cryptocurrencies

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele said that a few months after the central bank instructed banks to stop serving the money sector, digital currencies "will come to life even in Nigeria." cryptography. Emefiele recognizes its country's position as one of the world's leading crypto markets, but insists its organization continue its research and "make our data available". The governor said that many Nigerians are embracing cryptos. Meanwhile, a report states that the governor expressed his dissatisfaction with many Nigerians' adoption of cryptocurrencies. He said that we did our research and found that a significant percentage of our people are involved in cryptocurrency, which is not the best. Make no mistake, some may be legitimate, but most are illegal. As various reports show, the target of the February 6 CBN directive towards banks seems to have failed. Nigeria's interest in cryptocurrencies and other emerging fintech continues to grow. For example, Bitcoin.com News recently reported that peer-to-peer cryptocurrency trading volumes have increased in the country, but interest in bitcoin (BTC) is still one of the highest in the country. 'Africa. Crypto Market Volatility Meanwhile, Emefiele, which appears to be tracking events in the global crypto industry, is trying to use Elon Musk's changing views on BTC to highlight vulnerabilities in the crypto market. cryptography. Over the past few weeks, Musk has made a series of comments on BTC and the crypto market in general, which has dropped crypto prices. Emefiele explained: We saw the market collapse. When Elon Musk initially tweeted when we said that our banking and payment services are no longer available for cryptocurrency transactions, he tweeted that he would invest $ 1.5 billion and as the price (bitcoin) increased. He has now tweeted and expressed some concerns and the thing (cryptocurrency) has collapsed. By the way, despite the disclosure of CBN '

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