Following the recent trends on digital currency, particularly Bitcoin and other rising wonder banks.
Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Commission (NDIC), on Friday said the commission and CBN had set up a committee to look into the trending “digital currency, ‘bitcoin’. 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”.

Ibrahim said “On our part, we have constituted a committee together with the central bank to have an in debt study of this phenomenal bitcoin. “We will look at it’s advantages and disadvantages, what it means for the payment system and what it means for safety and security of customers.



“We will also look at what it means for money laundering, anti corruption, crime and measurement of money /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. Ibrahim said ‘bitcoin’ included what is being called block chain technology based products in the market.

He said that a lot of Nigerians had already started patronizing bitcoin, stressing that ‘it had started to creep in and nobody could stop it.

He said that in Europe and the United States, it had gained currency and some of the leading banks in Europe had also adopted their own versions of bitcoins. “Some of the central banks have also adopted it and are seriously doing everything possible to bring in the emergence of this invisible products.

“The owners do not need any central bank; they do not need any physical bank. “If you are a subscriber, you only know yourselves and they give you a bit of the bitcoin and in some countries you can convert it to cash.

“You can make payments with it because it has been recognised and one of the famous ex-chief executive of Barclays PLC, Antony Jenkins, have joined the groups board of directors,”Ibrahim said. He explained that the financial service industry is not spared in all of this.

“It is a very serious matter and all hands must be on deck to educate the public against things like this. On the current problems regarding the emergence of wonder banks, Ibrahim said NDIC would not relent in calling on Nigerians, educating and sensitising Nigerians on the dangers of patronising wonder banks.

Ibrahim urged the media to help and continue to educate the public not to in anyway patronise institutions that were not licenced by the Central Bank or insured by the NDIC. On financial inclusion, he said although the success recorded was not much but there had been improvement in the area of financial inclusion in the country.

“The successes recorded is not much, but it is a good start given the prevailing number if Nigerians excluded financially, “I think if you check the statistics that has been rolled out you will appreciate that we have recorded tremendous successes in the last three years.

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http://www.latestandtrending.com/2016/12/bitcoin-ndic-and-cbn-are-looking-into.html#more

if our foreign reserves are changed to bitcoin

these people are starting to grow up

Bitcoin is one thing that has ever happened in my life positively.

*6:00am wakes up

*6:30am Go online Trade, Make profit that Bankers wouldn't even make in a month.

*8:00am Back in bed sleeping.

*11:00am waiting or received alert.

continues the next day.

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aaronson:
Bitcoin is one thing that has ever happened in my life positively.

*6:00am wakes up

*6:30am Go online Trade, Make profit that Bankers wouldn't even make in a month.

*8:00am Back in bed sleeping.

*11:00am waiting or received alert.

continues the next day.

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Please share with me

aaronson:
Bitcoin is one thing that has ever happened in my life positively.

*6:00am wakes up

*6:30am Go online Trade, Make profit that Bankers wouldn't even make in a month.

*8:00am Back in bed sleeping.

*11:00am waiting or received alert.

continues the next day.

aaronson:
Bitcoin is one thing that has ever happened in my life positively.

*6:00am wakes up

*6:30am Go online Trade, Make profit that Bankers wouldn't even make in a month.

*8:00am Back in bed sleeping.

*11:00am waiting or received alert.

continues the next day.

Bro... Pls ow do u trade wit bitcoin... Pls I need help... Thanks

Aaronson pls come and help us out oo
Show us tge way
Thank you