Virtual currencies are not legal tenders - EFCC
The Economic and Financial Crimes Commission (EFCC) has warned Nigerians to stay away from virtual currencies.
According to the anti-graft agency, virtual currencies are not legal tenders in Nigeria.
The commission also advised against Crypto Currencies and any associated dealings within the country.
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The warning was issued to Nigerians via the EFCC Twitter page on Thirsday, January 27.
Reacting to the EFCC's warning, some of the commission's followers on Twitter disagreed with their stance, while others gave their own opinion on the issue.
The Central Bank of Nigeria (CBN) on Tuesday, January 17 passed a circular to inform all Nigerian banks that all transaction in bitcoin and other virtual currencies have been banned in Nigeria.
Meanwhile, the CBN has said those who oppose its foreign exchange policy are unpatriotic.
In a statement made available to journalists on Thursday, January 26, the CBN say its policies are aimed at conserving foreign exchange, stimulating agriculture and manufacturing and promoting exports.
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The apex bank was reacting to criticisms for putting the naira at an artificially strong rate to the dollar despite strong inflationary pressure.
The naira can sell for almost 500 to the dollar on the illegal parallel market, while the government pegs its value to around 305 to the dollar.
Source: Legit.ng
