The Federal Government has announced its intentions to remove the Naira from all peer-to-peer (P2P) platforms, as revealed by Emomotimi Agama, the Director General of the Securities and Exchange Commission, during a virtual meeting with blockchain stakeholders on Monday.
This move is geared towards addressing the manipulation of the local currency’s value within the foreign exchange market. Regulatory authorities in the country have intensified investigations and oversight of cryptocurrency exchanges in recent months.
On March 8, Binance, the largest cryptocurrency exchange, halted its Naira services amidst these developments.
