The International Monetary Fund (IMF) has supported the ban of Cryptocurrency by Nigeria’s Central Bank of Nigeria.
The apex bank had few weeks ago directed all banks to stop its operation.
Mr Ari Aisen, The IMF Resident Representative for Nigeria, made this known during a press briefing on the recently published 2020 Article IV IMF Staff Report for Nigeria.
Aisen said many Central banks in the world have banned Cryptocurrencies.
He noted that the use of cryptocurrencies for illegal transactions such as money laundering and drugs was a global concern.
