A former presidential aspirant on the platform of the All Progressives Congress (APC) Adamu Garba, has thrown his weight behind the recent directive by the Central Bank of Nigeria (CBN), warning Deposit Money Banks (DMBs), other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs), against having any transactions in cryptocurrency or facilitating payments for crypto exchanges.
Garba who posted on his Facebook page on Friday shortly after the order from the apex bank, said the initiative was a good move and advised Nigerian youths who had hitherto invested in cryptocurrency to diversify and invest in the cattle business instead.
Garba insisted that the CBN took “a proactive measure to protect Nigerians from fraudsters who deceive ordinary citizens and defraud them of their earnings.”
“Better Investments! Those who might have lost their monies through a shortcut business called Crypto should learn to invest on real assets, like cows, which assured of huge returns on investment.
“Cow ranching business is more lucrative than all cryptocurrencies combined. Crypto traders are supposed to be regularized so that they can be tracked in the event of cheats,” Garba wrote.