The decision to delist the naira from all peer-to-peer (P2P) platforms has been officially announced by the Federal Government. Emomotimi Agama, the Director General of the Securities and Exchange Commission, revealed this during a virtual meeting with blockchain stakeholders held on Monday.
This strategic move is aimed at addressing the manipulation of the local currency’s value within the foreign exchange market. Over the past few months, regulatory authorities in the country have been diligently investigating and closely monitoring cryptocurrency exchanges.
In a significant development on March 8, the largest cryptocurrency exchange, Binance, ceased its naira services, indicating a growing trend towards stricter regulations in the cryptocurrency sphere.
