Nigerian VP see blockchain technology, cryptocurrency challenge traditional banking system in future, seeks regulation

Date:

Nigeria’s Vice President, Yemi Osinbajo, has called for the regulation of cryptocurrency in Nigeria, as against the exclusion of the digital currency from the financial ecosystem in the country.

Thank you for reading this post, don't forget to subscribe!

He said this at the one-day special summit of the Bankers Committee organised by the Vanguard Newspaper on Friday at Eko Hotels and Suites, Lagos.

Nigeria’s vice president Yemi Osinbajo
The Guardian Nigeria

Osinbajo who was the special guest at the event spoke on a number of issues affecting the economy of the country, including cryptocurrency.

“On the very topical issue of blockchain technology, digital assets, and cryptocurrencies, let me say two things,” Osinbajo said.

“First is that there is no question that blockchain technology generally and cryptocurrencies, in particular, will in the coming years challenge traditional banking, including reserve banking, in ways that we cannot yet imagine so we need to be prepared for that seismic shift and it may come sooner than later.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

“FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison for Fraud”

FTX founder Sam Bankman-Fried received a 25-year prison sentence...

Nigeria’s Access Holding eyes $1.5 bln share or bond sale

ABUJA, March 28 - Nigeria's Access Holding Plc (ACCESSCORP.LG),...

“AfDB Invests $75 Million in Indorama for Fertilizer Expansion”

The African Development Bank has inked a $75 million...

“Zack Orji survived two brain surgeries” – Emeka Rollas gives update

March 28, 2024. Azonuchechi Chukwu. The national president of the Actors...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading