Nigeria plans to delist Naira from all P2P crypto platforms

• Nigeria aims to ban the use of the naira on peer-to-peer (P2P) trading platforms.
• The news was announced after a meeting between the government, led by the Securities and Exchange Commission (SEC), and the blockchain community.

Latest virtual currency news From Africa, Nigeria plans to delist its local currency, the naira, from all peer-to-peer (P2P) cryptocurrency trading platforms in the country.

Newspaper punch report Early Tuesday morning, it was announced that the Federal Government, through the Securities and Exchange Commission (SEC), is working to remove Naira from all P2P crypto platforms.

The move comes amid government efforts against suspected dollar grabbers and currency manipulators.

Google News Nigeria SEC meets with crypto sector stakeholders

This latest development in Nigeria’s cryptocurrency landscape follows a meeting attended by the country’s newly appointed SEC Commissioner Emomotimi Agama and the blockchain community. Mr Agama revealed the government’s Naira plans during the meeting.

The government will not tolerate any manipulative behavior that threatens the market or Nigeria’s interests, but plans to work closely with industry to foster responsible growth and innovation.

Mr. Agama’s remarks to the Blockchain Industry Coordination Board of Nigeria (BICCoN) underlined the government’s readiness to engage and collaborate in the crypto space.

As Coinjournal recently highlighted, the meeting with the SEC came at the request of BICCoN. Roundtable between SEC Commissioner and Virtual Currency Exchanges. This conference could be pivotal in the overall quest to make Nigeria a cog in the global digital asset sector.