Cryptocurrency Used To Finance Terrorism, CBN, NFIU, ICPC Tell NASS

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Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, chairman Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof Bolaji Owasanoye, and Nigerian Financial Intelligent Unit (NFIU) yesterday told the Senate that cryptocurrency is being used as a channel for funding violent crimes, terrorism, just as it has become a clearing house for money laundering.

This is just as President Muhammadu Buhari has called for an overhaul of the national strategy on cybersecurity, urging more emphasis on exploring the internet for economic growth opportunities, enhancement of knowledge and mitigation of crime.Emefiele in his presentation before the Senate joint committee on Banking and Finance, Capital Market, ICT/Cyber Crime, said Nigeria has become a focal destination for virtual currency exchange, coming second in the world after the United States.

Emefiele stated: “Since when Nigeria stumbled into its usage, we have been studying its development. We know enough at this stage to decide that the continuation of this crooked activity significantly threatens the safety and soundness of our financial system. Also, chairman of ICPC, Prof Bolaji Owasanoye, said virtual assets and cryptocurrencies are risky for implementation in Nigeria because the real players are faceless.

Making his own presentation, a director from the Financial Intelligent Unit who pleaded not to be mentioned, said the decision taken by the Central Bank is in order.“This morning I took about 30 minutes making disclosure about cryptocurrency to a foreign member. And I disclosed 21 accounts to him,” he said.

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😀😀😀...... So are they telling us that the $6,000 that was said to have been sent to BOKO HARAM from DUBAI by 6 Nigerians was in CRYPTO

the recent 800m they paid to terrorist bandit was it with bitcoin why not ban naira and dollar too

Fools, yet they can't trace the biko haram sponsors

Arrest the giver and the receiver case closed

The who world already know this and cryptocurrency is still gaining more ground better than naira

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