Nigeria is planning to join China in the adoption of digital currency, the Central Bank of Nigeria Governor, Godwin Emefiele, has said.
The apex bank governor made the disclosure during the 279th Monetary Policy Committee meeting on Tuesday.
Emefiele is one of the Central Bank Governors that does not favour cryptocurrency, but sees digital currency as a better alternative.
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China early in April announced its digital Yuan which is controlled by its central bank.
Emefiele’s move to ban cryptocurrency transactions from the official banking channels was attacked by prominent Nigerians including some members of the National Assembly.
“I can assure everybody that digital currency will come to light even in Nigeria,” he said on an alternative for cryptocurrency.
Bitcoin had crashed to $30,000 after Tesla Inc Chief Executive Officer, Elon Musk, tweeted that Tesla will no longer accept Bitcoin for its cars contrary to earlier remarks.
By May 12, this year investors in cryptocurrency suffered pushing losses of over $1.3trn.
Emefiele said, “I was listening to someone at the National Assembly who said, Central Bank Governor, I deal $15m in crypto per week. $15m per week? Through which bank did $15m per week go through?
“I was looking at him because those dollars did not come into the economy. If it doesn’t come into the Nigerian economy, I have no reason to believe that it is a legitimate business.
“You sit in your house and you use your computer and do whatever you are doing, and you said you transfer $15m per week, bring it and let the world see, so that we can really support you.”