FG Set to Delist Naira from Peer-to-Peer Platforms

The Federal Government has announced plans to delist the naira from all peer-to-peer (P2P) platforms.

The Director General of the Securities and Exchange Commission, Emomotimi Agama, made this disclosure in a virtual meeting with blockchain stakeholders on Monday.

This decision aims to tackle the manipulation of the local currency’s value in the foreign exchange market.

The country’s regulatory authorities have been investigating and scrutinising cryptocurrency exchanges in recent months.

On March 8, the biggest cryptocurrency exchange, Binance, stopped its naira services.

Details later…

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