The Central Bank of Nigeria and the Nigerian Financial Intelligence Unit have reversed a $3 million fraud back to the country.
The fraud was perpetrated through the usage of Cryptocurrency.
Speaking before a Senate Joint Committee, the Director and Chief Executive Officer of NFIU, Modibbo Haman, informed the lawmakers that Cryptocurrencies were being used to perpetrate fraud.
According to Haman: “We reversed more than $3 million fraud back to the country with CBN.
“The fraud was carried out through Cryptocurrency.”
The NFIU Director added that the decision taken by the CBN on Cryptocurrency was in the best interest of the country.
The CBN had, through its Governor, Godwin Emefiele, announced a ban on trading in Cryptocurrency.