The federal government has vowed that it will remove the naira from all peer-to-peer (P2P) exchanges.
The Securities and Exchange Commission’s Director General, Emomotimi Agama, made this announcement during a virtual conference with blockchain stakeholders on Monday.
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This resolution seeks to counteract manipulation of the value of the local currency in the foreign exchange market.
In past months, the nation’s regulatory bodies have started looking into and closely examining cryptocurrency exchanges.