The Federal Government has announced intentions to remove the Naira from all peer-to-peer (P2P) platforms.
Emomotimi Agama, Director General of the Securities and Exchange Commission, shared this information during a virtual meeting with blockchain stakeholders on Monday.
This move is aimed at addressing the manipulation of the local currency’s value in the foreign exchange market. Regulatory bodies in the country have been actively examining cryptocurrency exchanges in recent months. On March 8, the largest cryptocurrency exchange, Binance, ceased its Naira services.
