Femi Gbajabiamila

Speaker Gbajabiamila advises regulatory of cryptocurrency in Nigeria

The Speaker of the House of Representatives, Femi Gbajabiamila, has called for proper regulatory to guide cryptocurrency in Nigeria.

The Speaker advised this when management team of Nigeria Deposit Insurance Corporation (NDIC) visited his office.

Agency’s spokesperson, Mr. Sunday Olufemi, said this in a statement today.

“Entire world is exploring ways of mainstreaming cryptocurrencis into the global financial landscape,” Olufemi quoted the speaker.

Gbajabiamila revealed that world leaders recently had a meeting in Osaka, Japan, to discuss cryptocurrency.

“The NDIC and other safety-net participants in the country must not be left behind in the adoption of appropriate regulatory framework to deal with the prevalence of cryptocurrencies in the global financial space,” Gbajabiamila said.

Gbajabiamila furthered by appreciating the visit of the NDIC team.

NDIC had also advised Nigerians to exercise extreme caution in the usage of cryptocurrencies in transactions.

It was said that while various forms of digital currencies currently in operation had their positive and negative attributes, those patronising them risked losing their savings.