CBN's Tight Grip on Cryptocurrency Stems from Limited Understanding
The Future of Finance: Embracing Blockchain and Cryptocurrencies in Nigeria In the heart of Lagos, at the Landmark Centre on Victoria Island, a gathering unlike any other aimed at reshaping the financial landscape of Nigeria recently took place This event, dubbed the "Decentralised Finance (DeFi) and Beyond Summer Summit," drew in a host of digital creators, developers, aficionados of Non-Fungible Tokens (NFTs), blockchain technology enthusiasts, and thought leaders The summit's agenda was clear: to pave the way for the future of finance by introducing blockchain and cryptocurrency to mainstream audiences in Nigeria Tackling Misconceptions Head-On One of the notable voices at the summit, Kingsley Momoh, the founder of Non-Fungible Token Nigeria (NFT NG), addressed the elephant in the room – the skepticism surrounding cryptocurrencies Momoh pointed out that the Central Bank of Nigeria's (CBN) hesitance towards cryptocurrencies isn't unfounded but stems from a lack of understanding of blockchain technology...
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