The acting director-general of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama explained that delisting the naira from peer-to-peer (P2P) platforms will tackle the manipulation of the local currency’s value in the foreign exchange market.
Agama stated this during a virtual meeting with the Blockchain Industry Coordinating Committee of Nigeria (BICCoN) the umbrella body of all major blockchain and cryptocurrency Associations in Nigeria held yesterday.
This decision aims to tackle the manipulation of the value of the naira using cryptocurrency exchanges.
The country’s regulatory authorities have been investigating and scrutinising cryptocurrency exchanges in recent months.
On March 8, the biggest cryptocurrency exchange, Binance, stopped its naira services.
The SEC boss stated that the commission will not hesitate to utilise all the powers within its mandate to handle issues that are negative and pose a threat to national interest, saying that the Commission has…
Source: Leadership Newspaper
