JUST IN: FG to delist naira from P2P platforms

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The Federal Government has announced plans to delist the naira from all peer-to-peer (P2P) platforms.

 

The Director General of the Securities and Exchange Commission, Emomotimi Agama, made this disclosure in a virtual meeting with blockchain stakeholders on Monday.

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

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

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

 

Details later…

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