Experts seek policy on crypto currency trade

The Chief Executive Officer of Xchangerate.oi, Mr. Peter Moradeyo, has appealed to the Central Bank of Nigeria (CBN) to come up with a policy framework for trading in crypto currency.
Moradeyo made the appeal at the launch of its CBM 2.0 model of crypto currency trade held at Eko Hotel in Lagos. The programme also featured graduation ceremony of 16 people who participated in their 30 days’ online training programme, after which awards were given to supportive staff and customers.

He said that the Crypto currency trade is a growing phenomenon in Nigeria that requires proper education and policy framework for its users so that they will not be scammed.
He noted that although the Central Bank of Nigeria had earlier announced that Nigerians should be weary of crypto currency trade, saying mere announcement cannot deter people who are spending their own money but the regulatory agency can help in providing proper education and direction.
Moradeyo, who is also the Principal Consultant, Cryto Plus Certified, said “you cannot stop people from spending their money the way they want. We can only advise them on what and how to better use their money.”

He said: “CBN should tell us what it is and what is not. They need to advise us appropriately, so that everyone will be guided to make the right decision. They need to properly let Nigerians understand the concept of crypto currency trade and see how they can help the users have correct information. So when the users appreciate it correctly, they are able to make their informed decision.”

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