In regards to the ban on cryptocurrencies by the CBN, the Central Bank of Nigeria did released a letter addressed to banks and other financial institutions which stated that dealing in cryptocurrencies and facilitating payment for cryptocurrency exchanges are prohibited. The CBN further instructed all banks and other financial institutions to identify individuals or entities who transact in cryptocurrency or operate cryptocurrency exchanges and close the accounts of such persons or entities.
This ban brought a lot of controversies and spiked up reactions of many young Nigerians who said the ban will only fuel up mistrust for the government, although the governor of the central bank of Nigeria said cryptocurrencies ban were for the favour of Nigerians.
Recently, to speak on this issue was the ICPC Chairman who I quote "" Cryptocurrencies was used to sponsor and Fund that #EndSar protest.
What do you think, you think the ICPC Chairman is right and Godwin Emiefiele is not right for saying the cryptocurrencies ban is for the favour of Nigerians.
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