International Monetary Funds supports CBN's decision on cryptocurrency

The International Monetary Fund (IMF) has backed the Central Bank of Nigeria’s decision directing banks to desist from carrying out transactions with entities dealing in cryptocurrencies.

 

The IMF Resident Representative for Nigeria, Mr Ari Aisen, during a special virtual press briefing on the recently published 2020 Article IV IMF Staff Report for Nigeria, said that the use of cryptocurrencies for illegal transactions such as money laundering and drugs was a global concern.

 

Mr Aisien added that many central banks in the world have taken similar policy decisions like CBN to combat money laundering. 

 


Comments

Post a Comment

Popular posts from this blog

13 suspected internet fraudsters arrested and detained in Abuja

Image
A syndicate of 13 cybercrime suspects were on Thursday March 11, arrested by operatives of the Abuja Zonal Office of the Economic and Financial Crimes Commission.    Five of the suspects were picked up at an N8m a year apartment in Gilmore Estate, Jahi, while the other eight were arrested at Katampe Extension, all in Abuja.     The raids were carried out following an actionable intelligence on their alleged criminal enterprise. iPhones, laptops, gaming consoles, 1 Toyota Avalon, and a Lexus SUV were recovered from the suspects.      The suspects have given valuable information and will be charged to court as soon as investigations are concluded.
Read more

Two unknown combat aerial vehicles to fight terrorists sent to Nigeria

Image
Nigeria has joined China and United Arab Emirates (UAE) as the only countries operating the WingLoong II Unmanned Combat Aerial Vehicle (UCAV). Nigeria receives 2 unmanned combat aerial vehicles to fight terrorists. [Twitter/@NextEditionNews] In addition to the two inducted into the Nigeria Air Force (NAF), six other UCAVs are expected by early 2021. The two WingLoong II can remain airborne for 31 hours in internal security reconnaissance (ISR) mode and 26 hours in offensive role. NAF Spokesperson, Air Commodore  Ibikunle Daramola , said in a statement on Tuesday that the aircraft will add significant value to the nation’s counter-insurgency and anti-banditry operations. Daramola said that in the last five years, 22 new aircraft have been acquired by the Air Force while 19 more are expected before June 2021. According to the NAF Spokesperson,  “close to 200 NAF pilots, engineers and technicians are undergoing training in nine different countries as part of efforts ...
Read more

ABOUT US

Image
   STARS REPORTERS  Stars Reporters is a major brodcast company and platform that is connecting people who have passion for news casting, blogging, and media. It is the easiest way through which you can be paid by posting online via  WhatsApp  and  Nairaland . Students, traders, adminstrative workers can pay their bills from this platform. We also run  ADVERTS .  PRIVACY POLICY  This is not an avenue for fraudulent activities, spam, violence, racism, abuse or homosexuality,  if any of such activity is noticed report by placing a public comment or by clicking on the  report abuse  gadget, make this instructions useful and avoid being  banned  listen to this caution and make internet useful.  TERMS OF USE  This media platform is not for people below the age of 18. All words must be spelled correctly subject and body of every post. Advertisement of crypto currency (Bitcoins) is not allowed here, it is a symbol ...
Read more