A Federal High Court sitting in Abuja on Monday vacated an interim order which directed the Central Bank of Nigeria to freeze accounts of two firms in two banks that were linked to cryptocurrency trading.
According to the Judge, the CBN failed to provide any law showing that it is illegal to deal in cryptocurrency in Nigeria, adding that the CBN circular, referenced as BSD/DIR/PUB/LAB/014/001 of February 5, 2021, is not a law. But CBN's counsel, Mr Mathew Onoja argued that the ex parte orders the court sought to be set aside were proper, lawful and valid.
“I have perused the counter affidavit of the Respondent and I see that the reason for freezing the account of the applicant is based on the alleged infraction of the circular of the CBN. “Being unknown to law, circulars cannot create an offence because it was not shown to have been issued under an order, Act, Law or Statute.
The digital world is moving at a speed of light. APC, CBN, SEC and bubu don't sleep the sleep of death ooooo. Join the train now
Analog thinkers
After banning commercial banks from dealing in crypto. Its already a failed project cos I can't buy Enaira dats pegged to Naira currency without value
Dogezilla the shib killer is here to take over 33k holders in 4 days btc shib bnb crypto eth saitama feg safemoon
What a shame? See how much they ve lost already. What was the rationale behind this?
I prefer mad scientists who at least can invent and innovate, than mad economists who are bent on destroying our economy. But we can see that 1+1=2, the mad economists can follow the trend or get out of the way, the tech train moves on
Nice
They are running the country like a one man business. Buhari with no elementary school certificate telling the governor of Central Bank on what to do if he failed to comply he will be removed. If not for one nigeria Malami Tanko and buhari would be selling sugarcane in kano
Unfreeze cryptocurrency to lure us with eNaira hmmmm to boost our economy. Easy means for 9ja police to empty your account. Should we expect 🤔 NTweet after tweeter ban has been lifted.
Muhammed buhari government is dead government. I have ever see this type of useless old people and Fulani Cows brain government before.
Now sue dem outdated and washed up old-school running the economic show to catastrophe for loses during this period because a lot of water has gone under the bridge
Q
cchukudebelu In Nigeria, a court order is very different from the obedience of the court order! Ju Kwa ese!
manorpok
Because they want to launch their own that's why.
LunoHelp LunoGlobal how far
Good, whoever is against cryptocurrency in this century need to be checked. I have high quality furnitures, get a new bed frame in the house, durable and made here in 🇳🇬 6x6 bed frame, 4&half sized bed frame. Comes with a side shelf. Priced 75k Kindly DM Whatsapp: 08145193444
Lawless country But you will be looking for 'investors.'
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