Mr. Godwin Emefiele, the Governor of Central Bank of Nigeria, CBN, told the Senate that the ban placed on cryptocurrency transactions was an effort to protect Nigerians who bank.
Emefiele stated the reasons that fuel the apex bank’s decision to commercial banks to terminate any accounts meant for Cryptocurrency.
Appearing before the Senate Committee on Banking, Insurance and Financial Institutions and Capital Market and ICT, the Governor of the apex bank, said Nigerians should be happy that the CBN ordered the closure of all cryptocurrencies account in Nigeria.
According to him, Nigerians who are not into any dubious business should be happy with the new development, noting that Cryptocurrency insists that the currency is owned and issued by unknown, unregulated elements that use computers are encrypted.
He added that Cryptocurrency was created to hide some information about the transactions and operators.
“Cryptocurrency is used to describe traders’ activities in an electronic dark world where transactions are incredibly opaque, not visible, and not transparent.
“These are people who deal in transactions that do not want to be trailed.
“The definitions of cryptocurrency was scary enough to scare anxiety for any regulator or Central Banker in any part of the world, and that is the reason, virtually all regulators in the world did not recognize it.”
Nigerians have reacted to a post shared by sensational singer David Adeleke popularly called Davido, where he disclosed a time he had no money, despite being the billionaire's son.
The singer, who recalled the past events in his life while he was with his cousins, said it might be hard to believe it, but twelve years ago, they had no money nor support from anyone but was full of dreams.
Davido, while appreciating God for his life, urged his fans never to stop believing in themselves.
Davido wrote: Damn I went to my old apartments where I used to live 12 years ago with Sina and B red!!! As hard as it is to believe .. we had no money .. no support just us and a dream !!...
The Nigeria police officers have been filmed flogging Aba residents with Machete.
The video was posted popular micro blogging platform, Twitter by one Harrison with the handle, @harrisonmbamara.
In the video, four police officers were seen forcing an unknown man and woman to do frog jump in a quiet street. All of a sudden, the man was forced to lie on the road as the police officers used machete on him.
The officers could be heard, from the clip, shouting at their victims who appeared helpless.
It is unclear why the two were being punished.
But from the voices from the background, from the people who were doing the secret recording, it appeared the assault was...
Boboye Oyeyemi, Federal Road Safety Corps Marshal, has directed his team to seize all unsound vehicles on Nigerian roads.
In a statement by Bisi Kazeem, Corps Public Education Officer explained that the seizure of unsound cars was part of the endeavor of the force to reduce crashes across the country road.
Commanding Zonal Officers and Sector Commanders have been ordered to begin a nationwide clampdown, arrest, impoundment, and prosecution of owners or operators of the rickety vehicles.
The spokesman of the FRSC further states that the move was aimed at reducing road traffic crashes by at least 15 percent and fatalities by 20 percent in 2021.
“If drivers and vehicle...