Breaking News
Home / BUSINESS / Emefiele warns Nigerians over bitcoin

Emefiele warns Nigerians over bitcoin

Emefiele warns Nigerians over bitcoin

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said investing in virtual currencies such as bitcoin, is a “risk that cannot be supported” by the apex bank.

Emefiele stated this in an interview with reporters in Abuja.

He highlighted the “dangers” in bitcoin trading, saying he had commissioned the bank to carry out research into the market to understand underlying issues.

“Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful.

“We cannot as a central bank give support to situations where people risk savings to gamble.

“I have asked my colleagues in the research and monetary-policy department to study the market and get to know what the issues are.

“The central bank may in future make some very concrete pronouncements as to the direction,” Emefiele said.

 

SOURCE

Comments

comments

Check Also

OML30-696x445

OML 30 Communities Want All CDB Chairman’s Contracts Terminated

Oil-bearing communities under the Oil Mining and Lease (OML) 30 have demanded the termination of ...

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »