Moghalu Speaks On Cryptocurrency Challenges and Opportunities

Former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, will be addressing the controversy around cryptocurrency at a forum of global leaders in cycle technology in Dubai, United Arab Emirates.

Moghalu is expected to deliver the keynote address at the Cybertech Global Conference, an annual gathering of the world’s top leaders in the field of cyber technology.

The former Presidential candidate was one of the top Nigerians that disagreed with Nigeria's apex bank on its decision to ban cryptocurrency-related transactions in Nigerian banks.

His suggestion was later shared by Vice President Yemi Osinbajo, that the risk of cryptocurrencies should be managed and regulated rather than an outright ban from the banking system.

The CBN has ordered banks and financial institutions in Nigeria to close all accounts of cryptocurrency traders.

The event will be held in Dubai, the United Arab Emirate from April 5-7, 2021.

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The Cyber tech Global Conference will review developments in the cyber technology ecosystem and its applications to governance, business investments, national security, academia, and finance.

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

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

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

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