Entertainment

Davido Becomes The Latest To Be Struck By Cryptocurrency Ban

Published

4 years ago

Feb 6, 2021.

The Central Bank Of Nigeria has banned the transaction of Cryptocurrency in the country
They issued a directive to Financial Institutions to stop payment or transactions in Bitcoin
Any institution that violates this order would be sanctioned, Davido has reacted to the new development

Popular music executive, David Adeleke , who goes by the stage name Davido has become the latest to be struck by crypto currency ban by Central Bank of Nigeria (CBN).

As gathered by EKO HOT BLOG, Davido has expressed his disappointment on the ban of crypto currency transactions by CBN. He took to his Twitter handle and Tweeted ” wooooooow only took three days “.

The ban on crypto currency transaction comes three days after Davido had expressed interest in starting a Bitcoin trading company , he made this known when he tweeted “thinking of starting a Bitcoin trading company….. Let’s see ….”.

Davido’s interest in trading crypto currency comes after Bitcoin became the number one cryptocurrency and has continued to draw attention globally after its value rose exponentially between December and January.

Unfortunately, CBN on Friday issued a directive to close up all accounts involved in transacting crypto currency .

This was made known in a circular issued ordering all financial institutions to desist from transacting crypto-currency.

According to the CBN, “dealing in crypto currencies or facilitating payments for cryptocurrency exchanges is prohibited”.

The current decision by the CBN to ban crypto currency transactions is just another stumbling stone to existing and future businesses.

Davido now joins a long list of Nigerian youths who have been utterly unimpressed with yet another government policy which is aimed at muzzling a legitimate source of income for many Nigerian youths.

YOU MAY ALSO LIKE