In an apparent rebuke of the Central Bank of Nigeria (CBN), the Vice President of Nigeria Yemi Osinbajo says the country’s monetary authorities must consider regulating crypto assets. He adds that instead of “killing the goose that might lay the golden egg”, Nigerian monetary authorities must consider providing a “robust regulatory regime” that addresses their concerns.
The Importance of Disruptive Technologies
Still, in his address at a Bankers Committee meeting, Osinbajo says “he fully appreciates the position” that has been articulated by the CBN. Since the CBN prohibition went into effect, leaders at both the CBN and the Nigeria Securities and Exchange Commission (SEC) have defended this decision.
However, in his speech, the Nigerian Vice President suggests that the country’s regulators must consider embracing emerging and disruptive technologies. Pointing to the past impact of some disruptive innovations, the Vice…