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Every medium of exchange is subject to fraud and criminality - Moghalu reacts to CBN' - Printable Version +- Forums (http://contripeople.com) +-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5) +--- Forum: Market Place (http://contripeople.com/forumdisplay.php?fid=77) +--- Thread: Every medium of exchange is subject to fraud and criminality - Moghalu reacts to CBN' (/showthread.php?tid=44104) |
Every medium of exchange is subject to fraud and criminality - Moghalu reacts to CBN' - Edoman - 02-09-2021 Every medium of exchange is subject to fraud and criminality - Moghalu reacts to CBN's reason for banning cryptocurrency transactions Former deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has criticized the apex bank’s reason for stopping cryptocurrency transactions in the country. Recall that CBN had in a statement released on Sunday February 7, said it banned cryptocurrency transactions because they are largely speculative, anonymous, untraceable and are increasingly being used for money laundering, terrorism financing and other criminal activities. Reacting to this while appearing on an Arise TV program on Monday February 8, Moghalu stated that the excuse of "cryptocurrencies being used to perpetrate fraud" is not a serious argument. The former presidential candidate in the interview averred that every medium of exchange is subject to fraud and criminality. Moghalu said all the apex bank needed to do, was come up with a regulatory framework that restricts the use of cryptocurrency or subjects it to some surveillance. He said; Quote: “Cryptocurrencies have their risks and the central bank should be concerned. The argument that cryptocurrencies are used to perpetrate fraud is not a serious argument. |