Garba was reacting to the latest instruction to Deposit Money Banks (DMBs), other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) against having any transactions in crypto or facilitating payments for crypto exchanges.
This directive issued by the Central Bank of Nigeria, CBN, on Friday has continued to generate diverse reactions.
Lending his voice via his verified Twitter handle, Adamu said the CBN took a proactive measure to protect Nigerians from fraudsters who deceive ordinary citizens & rid them of their earnings.
”Better Investments! Those who might have lost their monies through a shortcut business called Crypto should learn to invest on real assets, like cows, which assured of huge returns on investment.
”Cow Ranching business is more lucrative than all cryptocurrencies combined.
”Crypto traders are supposed to be regularized so that they can be tracked in the event of cheats.”
Attempting to give clarification of the new CBN policy regarding Crypto Currencies transactions in Nigeria, Adamu added; “
CBN doesn’t ban you from trading in Crypto but they banned Financial Institutions from participating in the trade.”
