Godwin Emefiele has reiterated the position of the Central Bank of Nigeria (CBN) that cryptocurrency currently has no place in Nigeria's monetary system. The apex bank earlier in February directed Deposit Money Banks and other financial institutions to close accounts of people using their systems for cryptocurrency trading. Nigerian senators a week later invited the Emefiele to explain the reasons for the ban and Nigeria's future plan for virtual assets. While appearing before a Joint Senate Committee on Banking, Insurance and other Financial Institutions; ICT and Cybercrime; and Capital Market on Tuesday, February ... (full story)