Ad

Senate Warns Nigerians Against Investment In Bitcoins

Senate Warns Nigerians Against Investment In Bitcoins

by | 31st January 2018
Bitcoins

The Senate has raised alarm over the proliferation of virtual currency called Bitcoin, urging the Central Bank of Nigeria (CBN) to alert Nigerians on the dangers involved in investing with the online currency.

 

The Senate also called on the National Orientation Agency to “spread the news against all forms of wonder banks and ponzi schemes operating in Nigeria.”

 

Also, the Senate Committee on Banking, Insurance and Other Financial Institutions is to investigate the viability of bitcoin as a form of investment and come up with recommendations on how to control its use and trade in it.

 

The committee was mandated to report to the Senate within two weeks.