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CBN Governor, Godwin Emefiele Speaks On Crypto Ban, Describes It As ‘Money Made Out Of Thin Air’

CBN Governor, Godwin Emefiele Speaks On Crypto Ban, Describes It As ‘Money Made Out Of Thin Air’

Mr Godwin Emefiele, the Governor of the Central Bank of Nigeria has described the 'Cryptocurrency' as money made from thin air.

The Nigerian-born economist and alumnus of Executive Education at Stanford University, Harvard University made the statement while reacting to the recent ban on the use of digital currency in Nigeria.

In the video which has been shared multiple times on Twitter, he described cryptocurrencies as a digital currency that is issued by likely unknown and unregulated elements using computed codes that are basically meant to encrypt or hide information about both the transactions and the operators.

He further went on to describe it as 'money that is created out of thin air.

He also explained that cryptocurrency is used to describe the activities of players in an electronic dark world where transactions are black.

While still speaking on the issue, he described people that deal in cryptos as 'people that deal n transactions that not only do not want a trail but indeed, by its nature, cannot be trailed.'

You can watch the video below:


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