Moghalu speaks on Cryptocurrency challenges, opportunities in Dubai


Former Deputy Governor Central Bank of Nigeria (CBN), Prof Kingsley Moghalu, will address the controversy on the use of cryptocurrency at a forum of global leaders in cyber technology in Dubai, United Arab Emirates.

He is expected to be the keynote speaker at the Cybertech Global Conference, the annual gathering of the world’s top leaders in the field of cyber technology.

The former presidential candidate was among the first Nigerians that disagreed with the Central Bank of Nigeria’s decision to ban cryptocurrency-related transactions in banks.

Vice President Yemi Osinbajo later shared Moghalu’s suggestion that the risks of Cryptocurrency should be managed and regulated rather than an outright ban from the banking system.

The CBN had ordered banks and financial institutions in Nigeria to close the accounts of Cryptocurrency traders.

The gathering holds in Dubai, the United Arab Emirates from April 5-7, 2021. The Cyber tech Global conference will review developments in the cyber technology ecosystem and its applications to governance, national security, business investments, finance, and academia.

READ ALSO: Moghalu counts cost of election postponement, says INEC’s action signposts failure

Moghalu will speak on “The challenges and opportunities of Cryptocurrency: A Global Perspective”.

He led the implementation of several reforms in the banking and payments system of Nigeria, including the development and introduction of the innovative unique identifier Bank Verification Number (BVN).

The reforms expanded financial inclusion and enabled the rapid growth of the financial technology (FinTech) industry in Nigeria.

Moghalu, who is the President of the Institute for Governance and Economic Transformation (IGET), a public policy think tank, is serving on a special assignment as the United Nations Development Programme (UNDP) Special Envoy on Post-Covid development Finance for Africa.

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