Nigerian SEC to 'Delist' Local Currency From P2P Crypto Trading Platforms
The Nigerian Securities and Exchange Commission (SEC) plans to “delist” the local currency, the naira, from all peer-to-peer (P2P) crypto trading platforms to curb manipulation of the currency’s exchange rate by speculators, according to SEC Director General (DG) Emomotimi Agama
The Director General of Nigeria’s Securities Regulator has announced plans to delist the local currency from peer-to-peer cryptocurrency trading platforms in the coming days. He insisted that the decision to delist the naira aims to eliminate the manipulation of the local currency by P2P cryptocurrency traders.
P2P Crypto Transactions Ban
The Nigerian Securities and Exchange Commission (SEC) plans to “delist” the local currency, the naira, from all peer-to-peer (P2P) crypto trading platforms to curb manipulation of the currency’s exchange rate by speculators, according to SEC Director General (DG) Emomotimi Agama. This decision, along with other changes, will be implemented in the coming days, the DG said.
Agama, who made the remarks during a virtual meeting organized by a Nigerian blockchain association, said the SEC’s objective is not to eliminate the crypto industry but to ensure it is respected globally. The director general’s confirmation of plans to delist the naira followed weekend media reports warning of an imminent ban on P2P crypto transactions.
