Nigerian SEC(Securities and Exchange Commission) sets up the Fintech sector especially for researching cryptocurrencies. The main ambition of the research is to study different types of investments over this new asset. During an Interview, Lamido Yugudu (Director general of SEC) lets us know about the research. So, let’s take a look.
Why Nigerian SEC sets Fintech sector?
Yugudu explains that why the research is important in the long run in an interview. He says that the outcome of the research will provide the best possible ways to regulate cryptocurrency. Therefore, informing the SEC about the findings might help the director-general lift the Central Bank of Nigeria’s Feb 6 directive. The February 6 directive says that the Central Bank of Nigeria (CBN) orders banks to close accounts of crypto clients. Although, the director-general did not put any deadline on the lifting of CBN’s directive.
Yugudu further explains why…