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Friday, May 24, 2024

Nigerian Govt To Delist Naira From Peer-To-Peer Platforms

Nigeria’s Government has disclosed plans to delist the Naira from all peer-to-peer, P2P, platforms.

According to Daily Post, Director General of the Securities and Exchange Commission, Emomotimi Agama, disclosed this during a virtual meeting with blockchain stakeholders on Monday.

This decision aims to tackle the manipulation of the local currency’s value in the foreign exchange market.

The country’s regulatory authorities have been investigating and scrutinising cryptocurrency exchanges in recent months.

On March 8, the biggest cryptocurrency exchange, Binance, stopped its Naira services.

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