Bitcoin Has Made Our Currency Almost Useless And Valueless” – Senator Sani Musa (Video)

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The representing the Niger East District Niger State, Sani Musa has stated Cryptocurrency has made the Naira almost useless and value.

The said this on Thursday, February 11, during plenary while he and other lawmakers debated on the Central Bank’s decision to ban the use digital currency .

He Said;

”Crptocurrency has become a world wide transaction of which you can not even identify owns what. It is being protected by an app or stuck to a bloc chip. The technology is so strong. I don’t know the kind of regulation we can do

Another very important thing we should know is Bitcoin has made our currency almost useless or valueless because I can remember about six or seven years ago, my son bought three pieces of Bitcoin online and today, he is coming to tell me that he has Bitcoin for sale.

Where is it because it is not physical.

He said he has it on sale because he has bought it and each one is going for N17 million. So if we have an economy that is very weak and we cannot regulate Cryptocurrency , then I don’t know how our economy will be the next few years.” he said

On February 5, the apex bank instructed all to close accounts of any of their trading in Cryptocurrency. According to the CBN, Cryptocurrencies are being used to finance crimes such as Terrorism, kidnapping, and others.

Watch the of Sani speaking below;