Atiku Abubakar Reacts to CBN’s Cryptocurrency Ban

Nigeria’s former Vice President and Presidential aspirant, Alhaji Atiku Abubakar has reacted to the ban of cryptocurrency by the Central Bank of Nigeria (CBN).

Atiku Abubakar criticised the decision of the Central Bank of Nigeria (CBN) to ban cryptocurrency trading in Nigeria.

He also advised the FG to create jobs for Nigerian youths because unemployment is the number one challenge of the country.

The Central Bank of Nigeria (CBN) on Friday, February 5, 2021, directed Deposit Money Banks (DMBs) and other financial institutions to close accounts of persons who are using their systems for cryptocurrency trading.

CBN also warned that financial institutions who breach the directive would face severe sanctions.

Atiku Abubakar in his reaction to this via a statement titled, ‘We Need To Open Up Our Economy, Not Close It’, on Saturday, February 6, 2021, said the government should create jobs for Nigerian youths because unemployment is one of Nigeria’s main challenges.

Atiku Abubakar Criticizes CBN’s Crypto Ban

Excerpt from his statement reads, “The number one challenge facing Nigeria is youth unemployment. In fact, it is not a challenge, it is an emergency. It affects our economy, and is exacerbating insecurity in the nation.

There is already immense economic pressure on our youths. It must be the job of the government, therefore, to reduce that pressure, rather than adding to it

Atiku Criticizes Cbn'S Crypto Ban
Atiku criticizes CBN’s crypto ban

Also Read: Outrage as CBN Bans Cryptocurrency

Nigerians have since taken to social media to show their frustration against the FG over the recent decision.

Many linked the ban to the #ENDSARS protest by the Nigerian youths which was majorly funded by cryptocurrency with Twitter CEO, Jack Dorsey joining in the donation.

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