The Central Bank of Nigeria (CBN) has warned that bitcoin and digital currencies are not legal tenders but Nigerians don’t seem to care.
Bitcoin Adoption Rising Despite Apex Bank, Senate Warnings
In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) highlighted how bitcoin is booming in Nigeria, despite the central bank’s anti-crypto stance.
As per its report on digital currencies:
The CBN has also declared that digital currencies are not legal tender with naira as the sole legal tender.
There are concerns on the use of other digital currency which is currently changing the global payment ecosystem.
And it’s not just the CBN. The Nigerian Senate has also tried its best in deviating the vox populi off the bitcoin and crypto track. But it seems the people don’t really feel settled…