Following the directives of the Office of the National Security Adviser and the Securities and Exchange Commission (SEC) that the naira be delisted from Peer-to-Peer Trading platforms, the exchanges have begun implementing same.
Checks indicate that the naira has been removed as a fiat currency option for transactions on KuCoin platform and the exchange has already begun the necessary adjustments to its technology to accommodate the delisting of the Naira as soon as practicable.
Acting Director General of the SEC, Emomotimi Agama, reacting to the delisting by KuCoin, expressed delight that the crypto exchanges are heeding to the directives of the ONSA and the SEC describing it as a welcome development.
He said, “We are happy that they have started complying with the Directives by the NSA. We ask that those involved in sharp practices that undermine national interest should cease and desist. It is in our interest as a people to protect what belongs to us. Anyone that disobeys directives should be ready to face the full weight of the law.”
Agama stated that as the apex regulator of the capital market, the SEC is co-operating with the Office of the NSA, the Economic and Financial Crimes Commission and other relevant agencies.
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