business

writen by:Bluecap

6 days ago

Nigeria is reported to be the second highest holder of Bitcoins in the whole world after USA, and Nigeria’s holding is about $566 million. It is also noted that one Bitcoin is valued at about N16 million. In effect it is like investment tradable at the Stock Exchange like it is traded in competing Exchange in West Africa – BRVM in Cote d’Ivoire – where about 600,000 legally identifiable entities use it either as a Blockchain Technology product or whatever. Watching Chimezie’s programme on Channels TV, she had contended that it is within the regulatory powers of SEC (Security and Exchange Commission) to regulate such investment portfolios as quotable on the Stock Exchange instead of the Central Bank of Nigeria (CBN) decreeing against it simply because IMF boss was raising concern of such investment not matching any industrial output from Nigeria, hence as either investment out of laundered money or as another means of funding terrorist activities.