The Federal Government has revealed intentions to remove the naira from all peer-to-peer (P2P) platforms, as announced by the Director General of the Securities and Exchange Commission, Emomotimi Agama, during a virtual meeting with blockchain stakeholders on Monday.
This move is aimed at addressing concerns regarding the manipulation of the naira’s value in the foreign exchange market. Regulatory authorities in the country have been closely monitoring cryptocurrency exchanges in recent months, with the largest exchange, Binance, halting its naira services on March 8.
Further details on this development will be provided later.
