Sierra Leone’s Ex-VP Commends Emiefele’s Action on Crypto Ban, Urges Other African Central Banks to Emulate

Sierra Leone’s former vice president who is also a leading member of the Sierra Leone APC party, Alhaji Sam Sumana, commended the Central Bank of Nigeria for its new policy banning Deposit Money Banks, Non-Financial Institutions, and other financial institutions from doing business in crypto and other digital assets.

In a statement issued yesterday from Freetown, Sumana commended the CBN and its governor, Godwin Emefiele, for being courageous enough to take the decision. The former Sierra Leonean Vice President noted that policy will curtail the activities of terrorists and other criminals in the country.

He, therefore, called on other apex banks in the different countries in Africa to emulate Emefiele to take a similar decision before criminals overrun the continent. Recall that Nigeria’s apex bank had last Friday, ordered banks to close accounts transacting with cryptocurrencies.

The development has generated mixed reactions from the financial industry players with some welcoming the development while others kicked, citing different reasons.