Banks Cryto Ban: Sierra Leone Ex-Vp Urges Central Banks In Africa To Emulate Emefiele’s Action Before Criminals Over Run Africa

Cryto ban: Sierra Leone ex-VP urges Central Banks in Africa to emulate Emefiele’s action before criminals over run Africa

By Joseph Erunke

ABUJA–FORMER Vice President of Sierra Leone and a leading member of Sierra Leone APC party, Alhaji Sam Sumana, yesterday lauded the Central Bank of Nigeria for its policy stopping Deposit Money Banks, Non-Financial Institutions, and other financial institutions from doing business in crypto and other digital assets.
In a statement issued yesterday from Freetown, Sumana commended the CBN and its governor, Godwin Emefiele, for being courageous enough to take the decision.
The former Sierra Leonean Vice President noted that policy will curtail the activities of terrorists and other criminals in the country.
He therefore called on other apex banks in the different countries in Africa to emulate Emefiele to take similar decision before criminals overrun the continent.
Recall that the Nigeria’s apex bank had last Friday,ordered banks to close accounts transacting with crypto currencies.
The development has generated mixed reactions from the financial industry players with some welcoming the development while others kicked,citing different reasons.


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