Business
Why Money Realized From #EndSARS Could Be Reason Behind Ban Of Cryptocurrency In Nigeria
Nigerian youths have taken to their social media pages to express displeasure over the shutting down of Cryptocurrency exchange bank accounts by the central bank of Nigeria.
With this development, one begin to wonder why the federal government could have allowed this to have happened, despite the fact that so many Nigerian youths rely on this to earn a living.
One of the reasons the CBN decided to do this is because they don’t have control over the flow of money in trading cryptocurrency.
In the history of Nigeria, the strength of cryptocurrency has not been shown as it was during #EndSARS protest against police brutality.
As we all heard, there was abundance of funds to the protesters, food was available, and almost all the daily need of every protester was provided by those who donated using cryptocurrency.
The CBN could not trace the inflow of the funds, as it is clearly beyond what can be regulated, hence, the need to totally ban it.
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