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DJ Switch Slams Nigerian Government Over CBN Ban On Cryptocurrency

DJ Switch, has reacted to Federal Government’s recent ban on cryptocurrency trading accusing  the government of promoting poverty.

The Central Bank of Nigeria (CBN) recently directed banks to close the account of those involved in cryptocurrency transactions in its systems.

Read the statement below

DJ Switch Slams Nigerian Government Over CBN Ban On Cryptocurrency

DJ Switch joined other Nigerians in reacting to the new policy on Twitter. The Disc jockey turned activist stated that the ban simply revealed that our government officials are backward.

DJ Switch Slams Nigerian Government Over CBN Ban On Cryptocurrency

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See tweet below

Meanwhile, In January 2017, the CBN had said digital currencies are largely used in terrorism financing and money laundering, considering the anonymity of virtual transactions.

Image result for PHOTO OF CBN STATEMENT ON CRYPTOCURRENCY

Furthermore, the apex bank had also said that such currencies are not accepted as legal tender in Nigeria.

In February 2018, the CBN issued a warning to people who invest in cryptocurrencies. It stated they would be unable to seek legal redress in the event of a collapse.

The past months has witnessed a surge in the number of Nigerians earning a living by trading the digital asset.

 

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Charis Ebiaghian

A creative writer ready to dish out juicy stories as they drop. When she is not writing, she is probably thinking of what to write next

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