Tekedia Forum

Forum Navigation
Please or Register to create posts and topics.

Industry Group Responds to CBN on Crypto Ban

BICCoN on the Nigeria’s Central Bank Crypto Policy: Making a Potential Breadwinner a Black Sheep in the Fintech Family.

You can call this a rejoinder to Nigeria's Central Bank policy on cryptocurrency, from the community. The  Blockchain Industry Coordinating Committee of Nigeria (BICCoN)  is the intercommunity working group in Nigeria’s emerging blockchain industry whose mission is “to provide an intercommunity approach to blockchain technology adoption towards achieving a more collaborative, innovative, and safer blockchain ecosystem in Nigeria”.

The excerpt that follows (on click) borders on the threats and risks which the Central Bank of Nigeria (CBN) identified in its press statement. It is a very long read but it is worth the time.

We acknowledge the CBN’s critical role in the Nigerian financial system and the Nigerian economy. It is the CBN’s objective to ensure monetary and price stability, issue legal tender in Nigeria, maintain external reserves to safeguard the international value of the legal tender currency, promote a sound financial system in Nigeria, and act as a banker and provide economic and financial advice to the Federal Government.