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Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by NotJobless: 8:32am On Jul 26, 2019 |
The Nigeria Deposit Insurance Corporation (NDIC) has issued a public warning about relying on cryptocurrency transactions. This was done via a press release on the 25th day of July, 2019. According to the press release, managing director and CEO of NDIC, Umaru Ibrahim. said relying on cryptocurrencies is very risky, because they are unregulated and not backed by central banks in most financial jurisdictions. The NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence. According to Ripples Nigeria, Umaru Ibrahim had previously talked about his concerns during a courtesy call with the NDIC board and the Speaker of the House of Representatives. Speaker Femi Gbajabiamila, spoke on eagerness to regulate cryptocurrencies and partake in the emerging global crypto market. He said: “The NDIC and other safety-net participants in the country must not be left behind in the adoption of appropriate regulatory framework to deal with the prevalence of cryptocurrencies in the global financial space.” Many Nigerians are currently using Cryptocurrencies and there is need for the regulation of this sector in the West African Country, From TestBoo.Com - https://testboo.com/nigerian-deposit-insurance-corporation-warns-against-cryptocurrency/ 9 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by dljbd1(m): 1:27pm On Jul 26, 2019 |
Ftc Thanks ntel |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by namiji2598: 1:27pm On Jul 26, 2019 |
The only currency i like 1. Naira✔️✔️ 2. $✔️✔️ 3. £✔️✔️ 9 Likes
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Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by nextstep(m): 1:28pm On Jul 26, 2019 |
I'm not a fan of fiat money issued by governments, and welcome the dominance of currency whose value is determined by decentralized agreement among peers. My only issue with cryptos is their instability. How can I hold money when I'm not sure how much bread it will buy from week to week? Forget the investing/speculating part. Just hold a coin, and what it can purchase fluctuates from day to day. Unless it becomes ultrastable it really has no chance of becoming a defacto currency. 35 Likes 2 Shares |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Flier: 1:28pm On Jul 26, 2019 |
Lol they should go and warn their family member What I do with my money is my business 23 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by NwaNimo1(m): 1:28pm On Jul 26, 2019 |
Trump talk am |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Elemosho478: 1:28pm On Jul 26, 2019 |
Gbajabiamila is a smart man 3 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Simplyleo: 1:29pm On Jul 26, 2019 |
I really missed a good opportunity with this crypto thingy. I could boast of close to $40k when a unit of bitcoin was barely $1k but I wasn't even aware of the stuff. It was when I had almost finished my hard currency that one goat started explaining and then it was as high as $6k. And even then, I could still afford one but I thought it was risky as per stock market. Now, I understand it goes for as high as $26k and I don't have even $1k 28 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by crestedaguiyi: 1:29pm On Jul 26, 2019 |
zombies 2 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by fotadmowmend(m): 1:29pm On Jul 26, 2019 |
Choi... My bros Don enter one chance |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Alamu1111: 1:29pm On Jul 26, 2019 |
Na everybody Dey do cyrtocurrency now for naija even Shoe maker does it 2 Likes
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Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by legalwealth(m): 1:30pm On Jul 26, 2019 |
Lol! !! |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by feezy(m): 1:30pm On Jul 26, 2019 |
Backward goats 2 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by ITbomb(m): 1:30pm On Jul 26, 2019 |
Of course, it's natural that they warn It's not for everyone 6 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Flier: 1:30pm On Jul 26, 2019 |
shirk23: |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by kirkwood: 1:31pm On Jul 26, 2019 |
Cryptocurrencies that other countries have adopted and approved. Nigeria is so backward as Bleep. 22 Likes 3 Shares |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 1:31pm On Jul 26, 2019 |
I get dogecoin, anyone interested 2 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Lamasta(m): 1:32pm On Jul 26, 2019 |
MMM comes to mind 1 Like |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by ednut1(m): 1:33pm On Jul 26, 2019 |
who remembers Liberty Reserve 6 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 1:33pm On Jul 26, 2019 |
feezy: This one don lose money tire. 2 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Newguyhere: 1:33pm On Jul 26, 2019 |
typical bs talk from people who don't care about the masses Bitcoin changed my life!! 31 Likes 2 Shares |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by paparazzi1987(m): 1:33pm On Jul 26, 2019 |
One Chance Currency |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by oglalasioux(m): 1:34pm On Jul 26, 2019 |
I know this crptocurrency is a good investment but Nigerians will spoil it with greed. I know guys and even girls are already collecting money from unsuspecting people in the name of investment in crptocurrency that doesn't exist. Good caution from NDIC. 2 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Job2004: 1:35pm On Jul 26, 2019 |
Crypto currencies are backed by Block chain technology. We are always behind global trends. The world is moving ahead 17 Likes 1 Share |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by rita25(f): 1:35pm On Jul 26, 2019 |
NO NA CATECOIN I WAN BUY MTCHEWWWWWWWWWWWWW I CHUKWU MY MOUTH Herrymax: 2 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by nosmas: 1:36pm On Jul 26, 2019 |
namiji2598: the only currency our forefather knows is Cowries;Salt; Gin etc Which one will the future people know? remember Money is ANYTHING that is generally accepted as a means of exchange 4 Likes |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Mftivi: 1:38pm On Jul 26, 2019 |
Lol backward people. Not being backed by any central bank is exactly it's selling point you dullards! 16 Likes 2 Shares |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by gringrin: 1:40pm On Jul 26, 2019 |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by gowaga68: 1:42pm On Jul 26, 2019 |
Get in touch Herrymax: |
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by passyhansome(m): 1:43pm On Jul 26, 2019 |
WILL THEY KEEP QUIET, WHAT DO THEY KNOW OTHER THAN RIP-OFF BANKS WITH USELESS INSURANCE POLICIES, KNOWING THAT IT WONT FAVOR THEM 6 Likes |
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