As the popular ponzi scheme, Mavrodi Mudial Moneybox, MMM, has seemed to induct many Nigerians into its fold, 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”.

“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 curruption, 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 patronising bitcoin, stressing that ‘it had started to creep in and nobody could Read More http://www.istylmagazine.com/news/africa/cbn-ndic-set-to-investigate-bitcoin/

Nigerian institutions always coming late to parties, we missed the land line telephony train, bitcoin train is already leaving the station and we are setting up a committee to look into buying a ticket?

We talk of diversifying the economy and weaning our dependence on dollar cash, Bitcoins is an apt alternative.

The FBI holds the largest bitcoin wallet, what is that telling you?

I wonder what these Guys do in their various offices n homes.
Bitcoin? smh