THELOGICALINDIAN - At a breakfast affair aboriginal this anniversary organized by the Chartered Institute of Bankers in Nigeria CIBN key players in the countrys fintech amplitude aggregate to altercate the appulse of cryptocurrencies accurately bitcoin and blockchain technology The Deputy Director of the Axial Bank of Nigerias Banking and Payments System CBN Musa ItopaJimoh batten at the affair In an account afterwards he antiseptic the CBNs attitude on bitcoin citation that a lot of bodies alter the axial banks contempo warning
Also read: Nigerian SEC Associates Shady MLM Schemes Like Onecoin With Bitcoin
Bitcoin-Focused Meeting
The affair was advantaged ‘Virtual/Cryptocurrency: Evolution, Regulatory Challenges and Impact on the Future of Payments and Settlement Systems’. Dr. Uche Olowo, First Vice 
President of the CBN, in his aperture remarks, talked about why the convention considers this affair acute for the Nigerian banking market, starting with bitcoin.
Citing both concern and attention about bitcoin from the all-around banking community, he said “on the one duke absorbed parties appearance it as the accomplished assuming and the best admired bill in the world”. On the added hand, “it is apparent by best acceptable banking players as ambiguous and complicated, and with doubts of its inherent value”. Nonetheless, he said that bitcoin “has the ability to abundantly affect the added acceptable agency of payments and adjustment systems, globally”.
The appulse of cryptocurrencies was discussed throughout the event, and afterwards the meeting, Mr. Musa Itopa-Jimoh said:
Previous Warnings about Cryptocurrencies
Nigeria has issued several warnings adjoin a few cryptocurrencies in the past, including bitcoin. On January 12, the CBN issued a circular to banks and added banking institutions on basic bill operations in Nigeria, acute them to booty assertive accomplishments apropos to 
digital currencies. The apprehension reads: “The CBN reiterates that VCs [virtual currencies] such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, etc, and agnate articles are not acknowledged tenders in Nigeria, appropriately any coffer or academy that transacts in such businesses does so at its own risk”.
On the aforementioned day, the Nigerian Securities and Exchange Commission (SEC) issued a statement admonishing citizens from advance in Bitcoin, Onecoin, and Swisscoin. Putting them in the aforementioned category, the SEC told the Nigerian accessible that such investments are chancy by attributes and some of them are “fraudulent pyramid schemes.” The accessible apprehension reads “The accessible is hereby brash to exercise acute attention with attention to agenda (cryptocurrencies) as a agent of investments”.
CBN: ‘We Can’t Stop Bitcoin’
Despite all the warnings, Mr. Musa Itopa-Jimoh antiseptic that the CBN has no ambition of endlessly bitcoin usage. “We are not the arising ascendancy for bitcoin. It’s not our currency. We do not ascendancy it. We don’t affair it, we don’t ascendancy it,” he said. “we are aloof arising attention to Nigerians”, he continued, citation that if they alternate in cryptocurrencies, they cannot appear to the CBN for customer aegis “because it is not aural our control”. He acclaimed that:
He added that all the CBN is accomplishing is admonishing Nigerians back ambidextrous or advance in agenda currencies back they are not beneath the ascendancy of the axial bank.
What do you anticipate of the CBN’s attitude on bitcoin? Let us apperceive in the comments area below.
Images address of Shutterstock, CIBN and the CBN
Bitcoin.com is a different online destination in the bitcoin universe. Buying bitcoin? Do it here. Want to allege your apperception to added bitcoin users? Our forum is consistently accessible and censorship-free. Like to gamble? We even have a casino
