Business

Nigerian govt to delist naira from P2P platforms

dollar to naira

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

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

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.

Details later…

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