NDIC - The Nigeria Deposit Insurance Commission - on Friday said the commission and CBN -Central Bank Nigeria - had set up a committee to look into the trending “digital currency, ‘bitcoin’.
The Managing Director of the Comission, Alhaji Umaru Ibrahim, said this at the ongoing 2016 Workshop for Financial Correspondents in Kaduna.
The theme of the workshop is “Economic Recession and the Nigerians Banking Sector: Opportunities,Challenges and the way Forward”.
“On our part, we have constituted a committee together with the central bank to have an indebt study of this phenomenal bitcoin.“We will also look at what it means for money laundering, anti corruption, crime and measurement of money and near money instrument for the economy.“But we need a lot of education to do this and I’m calling on you (media) to educate yourselves about all of this so you can educate the public,” he said.
Umaru said ‘bitcoin’ included what is being called Block Chain Technology based products in the market.
He also said that a lot of Nigerians had already started patronizing bitcoin digital currency, stressing that ‘it had started to creep in and nobody could stop it.