Crypto Ban: Group Back Emefiele, Say Action Patriotic

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The Nigeria Ethnic Youth Leaders Council has lauded the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over the bank’s recent policy stopping Deposit Money Banks, Non-Financial Institutions, and other financial institutions from doing business in crypto and other digital assets.

The council, which is made up of the Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Niger Delta Youth Council, Oduduwa Youths and Middle Belt Youths, viewed the ban as patriotic and courageous. In a statement by Ohanaeze secretary general and head of coalition secretariat, Nwada Ike Chiamaka the group particularly commended Emefiele and his team for taking this bold decision which is long overdue.

The group urged him not to relent in his efforts to sanitise not only the nation’s banking sector but the entire economic landscape. “We know of a fact that this policy is a hard hit against financial criminals of the underworld who in turn will stop at nothing in their desperate bid to ensure that the policy is changed so that they can continue to have their way.

“We urge the CBN team not to succumb to any pressure. The policy should be strictly implemented and those who flout the rule should be sanctioned appropriately,” the group said.

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