Emomotimi Agama, speaking at the annual conference of the Capital Markets Association of Nigeria (ACMAN), spoke positively about the potential of cryptocurrencies for fast and low-cost payments:
“Transactions in cryptocurrencies reduce the cost of transfers for citizens of the country who do not have access to banking services, the number of which exceeds 38 million people.”
A large number of Nigerians living abroad send bitcoin and other cryptocurrencies to their relatives back home, Emomotimi Agama said. The country is one of the largest recipients of crypto assets in all of Africa.
But there are problems associated with the use of digital assets, the official laments. We are talking about uncertainty with laws, low financial literacy and the security of digital asset transfers.
Earlier, Congressmen French Hill and Chrissy Houlahan traveled from the United States to Nigeria to assess the health and conditions of detention in the Kuja prison of an American citizen, top manager of the Binance crypto exchange Tigran Gambaryan.
Source: Bits
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