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

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.

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.

CBN governor briefing on Cryptocurrency.

💔💔💔💔 pic.twitter.com/kT8puKor3o

— Munachi Ogueke (@MunachiOgueke) February 24, 2021

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.

The CBN governor Godwin Emifiele describes cryptocurrency as money created out of thing Air. WTF 😭
What type of old people re ruling us like this ? pic.twitter.com/nYbHIl9pYt

— Defi-god 🪂📊📈🦅 (@defiBighost) February 25, 2021

I have never seen a better definition of disaster than the CBN Governor coming on National TV to say that cryptocurrency is created from thin air. Even my 7yr old Nephew knows the history of money and the evolution of the legal tender.

— Slimfit (@iSlimfit) February 25, 2021

I don't think the CBN Governor fully understands the concept of money…. But hey, he can do no wrong. He is the CBN Governor.

Lool out of thin air.

— Mo-Mo (@Morris_Monye) February 25, 2021

https://twitter.com/TerkumaI/status/1364797281258647554?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1364797281258647554%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.legit.ng%2F1404518-nigerians-react-cbn-cryptocurrency-activities-players-dark-world-viral-video.html

*Me, thinking of how I'm going to hasten my Canada visa, after listening to what the CBN governor said on cryptocurrency* pic.twitter.com/RnurgBjJdZ

— Baller G 💦🦉 (@spunky_niga) February 25, 2021

https://twitter.com/TundeEddnut/status/1364821587967492096?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1364821587967492096%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftrixxng.com%2Fcryptocurrency-was-created-out-of-thin-air-cbn-governor-godwin-emefiele%2F

CBN Governor banned crypto transactions with Nigerian banks because money created out of thin air and the idea of DECENTRALIZATION doesn’t sit right with him,this country is a badly written joke

— Dehkunle Of Africa 🐐 (@Dehkunle) February 25, 2021

CBN Governor is angry they don’t have enough money to trade Foreign exchange because Nigerian youths now hardly keep their money with banks.

Stamp duty charges for a whole year can buy me Christmas chicken, bossman. I’m wiser

— brysonjnr (@brysonadahcole) February 25, 2021

Your CBN governor said cryptocurrency is created from thin air 🤣🤣🤣🤣🤣🤣
I am rolling.
This man has children oooo
May our parents not disgrace us like this in public sha

— Valar Morghulis (@an_abass) February 24, 2021

https://twitter.com/zeezish_/status/1364838180256706560?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1364838180256706560%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftrixxng.com%2Fcryptocurrency-was-created-out-of-thin-air-cbn-governor-godwin-emefiele%2F

https://twitter.com/NotJustSalmanPR/status/1364838823415472130?s=20

My heart is broken by the CBN Governor impression of cryptocurrency.

How do we move forward with such people making policies for us?

From USA, China, Russia, Singapore, there are hundreds of businesses built on the Blockchain technology.

— Tosin Olugbenga (@TosinOlugbenga) February 25, 2021

https://twitter.com/NotJustSalmanPR/status/1364838823415472130?s=20

https://twitter.com/sarcasm_presh/status/1364847774949343233?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1364847774949343233%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.informationng.com%2F2021%2F02%2Fnigerians-knock-cbn-gov-over-position-on-cryptocurrency.html

Somebody need to tell the CBN Governor that Nigeria was also created out of thin air.

— omoyeni (@onabanjosamuel) February 25, 2021

Someone should tell the CBN Governor that crypto is the future and there’s nothing he can do to stop that , not now not anytime ever ! #NigeriaNeedsCrypto

— Dehkunle Of Africa 🐐 (@Dehkunle) February 25, 2021

The stupidity of the CBN Governor is a reflection of the incompetent and corrupt people we have allowed to stay in power. This is the product of political apathy by Nigerian youths who don't see beyond violent elections powered by APC/PDP hoodlums as the solution #OccupyNigeria pic.twitter.com/Pqm8vcbOin

— Coconut Head 🇳🇬 (@Proficience_) February 25, 2021

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.