Business
Cryptocurrencies to challenge traditional banking in coming years – Osinbajo
The Vice President of Nigeria, Prof. Yemi Osinbajo has recently called for Crypto regulation knowing fully well the role Crypto plays in the global financial ecosystem as he opined that such disruption often makes room for progress.
He stressed the importance Cryptocurrencies would play in the coming years as they will most likely challenge traditional banking, including reserve banking, in ways the world hasn’t yet imagined, stressing the need for Nigeria in being prepared for such a seismic shift.
He also called for scaling up of government-private sector interventions because, “the task of national development requires that we fire on all cylinders, after all at one stage China was building 1.9m housing units per year.”
Osinbajo also advised the SEC, and Central Bank of Nigeria in creating a regulatory road map, while fully appreciating the stance of the CBN, Nigerian SEC, and law enforcement agencies on the possible abuses of crypto assets.
-
Latest1 week agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business5 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business5 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business4 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Latest1 week agoOyo APC berates Makinde over call for UN probe into Oriire school rescue
-
Business5 days agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Business5 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts
-
Latest6 days agoKwankwaso calls for renewed North–South-East Political alliance ahead of 2027