Nigerians have come out to bash the Governor of the Central bank of Nigeria, Godwin Emiefele on Twitter over his definition of cryptocurrency as “money created out of thin air”.
Several were of the opinion that the governor was not well schooled on the subject of cryptocurrency thereby making the policies he makes on it doubtful.
Emiefele had defined cryptocurrency as an electronic and digital currency issued by “unknown, unregulated elements using computer codes that are basically meant to encrypt or hide information about the transaction and in a sense it is money that is created out of thin air,” at a press conference.
Morris Monye said, “I don’t think the CBN Governor fully understands the concept of money…. But hey, he can do no wrong. He is the CBN Governor.”
Joey Akan said, “I got so inspired watching this. If Meffy can be CBN governor, I’m going to apply for a job I don’t qualify for. What Nigeria cannot do does not exist,” while quoting the video of the press conference.
Another twitter user said “The CBN governor Godwin Emefiele speech on cryptocurrency has to go down as the biggest joke of 2021. I wonder where Buhari got his guys from oh well even Lai Mohammed is a minister.”
Elvis Tunde said, “CBN Governor, Godwin Emefiele actually thinks that Cryptocurrency is created out of thin air. A whole Central Bank Governor?? I go soon leave this country for una.”
Wale Adetona said, “I have never seen a better definition of disaster than the CBN Governor coming on National TV to say that cryptocurrency is created from thin air. Even my 7yr old Nephew knows the history of money and the evolution of the legal tender.”
Enachioke said, “CBN Governor went all voodoo about crypto currency because he knows Nigerians can be religious extremist , so he wants to push a 666 narrative to get some people in his side. Our government can be childishly manipulative, its embarrassing to see.”
On February 5, the apex bank released a letter addressed to Deposit Money Banks (DMBs), Nonbank Financial Institutions (NBFIs) and Other Financial Institutions (OFIs) stating that dealing in cryptocurrencies and facilitating payment for cryptocurrency exchanges are prohibited.