The Senate on Thursday summoned governor of the Central Bank of Nigeria Godwin Emefiele to shed more light on the recent ban on cryptocurrency.
The red chamber also summoned the director-general of the Securities and Exchange Commission (SEC) Lamido Yuguda over the ban.
They are to appear before the joint committees on banking, insurance and other financial institutions, ICT and cybercrimes and capital market.
The resolution of the Senate followed a motion sponsored by Senator Istifanus Gyang (Plateau North) and Senator Tokunbo Abiru (Lagos East).
Presenting the motion, Gyang said he was “aware that the action and directive of the CBN has attracted sharp reactions from Nigerians and has become a topical subject of national discuss; and realized that cryptocurrency is both an opportunity and a threat, hence the Senate has a responsibility to ensure that the nation and citizens do not miss out on the opportunities that cryptocurrency offers and in the same vein, mitigate and prevent likely consequential effects on the nation’s economy and security.”
Senate President Ahmad Lawan gave the joint committees two weeks to report back to plenary.
