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“Cryptocurrency Was Created Out Of Thin Air In Dark World” – CBN Governor, Godwin Emefiele

Emefiele has explained why bank accounts used for exchanging cryptocurrencies were shutdown some weeks ago.

The Governor of the  Central Bank of Nigeria (CBN), Godwin Emefiele has claimed that Cryptocurrency was created out of thin air for people in the dark world.

"Cryptocurrency Was Created Out Of Thin Air In Dark World" - CBN Governor, Godwin Emefiele 1

Emefiele made this claim when he appeared before a joint Senate committee that summoned him over the CBN’s directive to shutdown cryptocurrency operations in the country some weeks ago.

The CBN Governor told the Senate that the ban placed on cryptocurrency transactions was a step to protect Nigerians involved in banking.

According to him, the operations of crytocurrency is dark because it was created out of a thin air to hide information about the transactions and the operators.

ALSO READ: Mastercard Announces Plans To Start Accepting Cryptocurrency As Payment Option

“Cryptocurrency is used to describe the activities of traders in an electronic dark world where transactions are extremely opaque, not visible and not transparent.

“These are people who deal in transactions that do not want to be trailed.

“The definitions of cryptocurrency was scary enough to scare anxiety for any regulator or Central Banker in any part of the world and that is the reason, virtually all regulators in the world did not recognise it,” he said.

Emefiele noted that Nigerians who have nothing to hide shouldn’t complain about the CBN’s decision, instead they should be happy about the cryptocurrency ban.

ALSO READ: CBN Gives Reasons For Banning Cryptocurrency Transactions In Nigerian Banks

Emefiele’s comments has sparked outrage among Nigerian youths on Twitter, with many of them blasting him for making such statement.

 

KanyiDaily had reported how the CBN had directed banks to close all accounts belonging to crypto exchanges and other businesses transacting in cryptocurrencies in the country.

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