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“We Had To Ban Cryptocurrency Because It Sponsors Terrorism”. CBN Replies Nigerians, Give Reasons Why Cryptocurrency Was Banned.

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The Central Bank of Nigeria has finally replied Nigerians and given reasons why Cryptocurrency transactions was banned in the country, stressing that the use of Cryptocurrency sponsors Terrorism and illegal financial acts.

They made this known to the public through a statement released by Osita Nwanisobi, Acting Director, Corporate Communications, CBN.

MUST READ:  #BlackFriday As Fire Engulfs Onitsha Plastic Market. Destroys Properties Worth Millions Of Naira (Photos)

According to Osita, he said that the use of Cryptocurrency goes against the policy of CBN and that it is issued by unidentified person’s which makes it impossible to trace any transactions made. Hence the reason why it could be used to sponsor terrorism and other illicit business in the country.

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Nigerian News

#BlackFriday As Fire Engulfs Onitsha Plastic Market. Destroys Properties Worth Millions Of Naira (Photos)

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It’s currently a Black Friday for the people of Onitsha and most especially the traders of Onitsha Plastic Market as fire engulfs more that 40% of the market.

According to BBC News Igbo, they reported that the fire outbreak was said to have started early today morning around 1:50am Nigerian time and it is believed that properties worth millions of Naira was also destroyed.

MUST READ:  #BlackFriday As Fire Engulfs Onitsha Plastic Market. Destroys Properties Worth Millions Of Naira (Photos)

View the photos here:

The cause of the fire is not yet known and the State Police Command has informed the general public that investigations into the matter is currently ongoing.

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