The Independent Corrupt Practices and Other Related Offences Commission has called for regulation of cryptocurrency trading in Nigeria to prevent the swindling of unsuspecting members of the public.ICPC Chairman Bolaji Owasanoye made the call at the opening of a two-day capacity building retreat for members of the House of Representatives Committee on Anti-Corruption, and board members and directors of the Commission held in Uyo, Akwa Ibom State.
“Nigeria needs regulatory intervention in cryptocurrency trading. Some people trading in cryptocurrency have used the digital currency and assets to engage in corruption, money laundering and terrorism financing. Corruption in digital assets is not easily traceable,” Owasanoye said. Chairman of the House of Representatives Committee on Anti-Corruption, Nicholas Shehu, commended the anti-graft agency for collaborating with the House in the fight against corruption in Nigeria.
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How do you regulate something you didn’t invent?
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