January 18, 2017 BBC Monitoring News from around the globe Nigeria's central bank has banned financial institutions from using Bitcoin and other virtual currencies, saying they could be used in money-laundering and terrorism, the Premium Times newspaper reports. *Premium Times* @*PremiumTimesng* <https://twitter.com/PremiumTimesng> Nigeria Central Bank bars banks from virtual currency transactions - Retweets *7* - Likes *5* - [image: Agaba] <https://twitter.com/nkuuhe_> [image: Jorome] <https://twitter.com/JoshuaArome1> [image: dave chappelling] <https://twitter.com/whoisGwera> [image: Ahmed Ibrahim Jimeta] <https://twitter.com/ibjimeta> [image: Ismaila Lere] <https://twitter.com/Isma69> [image: African Business] <https://twitter.com/AfricanBizMag> [image: Rabi Abdullahi Aliyu] <https://twitter.com/rababsum> [image: Kingsley] <https://twitter.com/KingEmeka1> [image: Dorcy German] <https://twitter.com/DorcyTunez> 12:16 AM - 18 Jan 2017 0 replies 7 retweets 5 likes http://www.premiumtimesng.com/business/business-news/220824- nigeria-central-bank-bars-banks-virtual-currency- transactions.html?utm_source=dlvr.it&utm_medium=twitter There are hundreds of digital currencies but Bitcoin is the most widely known and used digital currency. It is currently trading at one bitcoin for $900 (£730). A statement from the banking sector regulator advised banks to ensure that they "do not use, hold, and transact in virtual currencies (VC)", the Premium Times reports. It said the move was meant to protect the integrity of Nigeria's financial systems and to protect people: “VCs are traded in exchange platforms that are unregulated, all over the world. Consumers may, therefore, lose their money without any legal redress in the event these exchanges collapse or close business." Nigeria's move is not dissimilar to other countries that view digital currencies with suspicion. -- Ann Marie "The art of living consists of knowing what to pay attention to and what to ignore." -- Mardy Grothe ################################################################################################# Join the African Association of Madison, Inc. for $25 per year. Mail check to: AAM, PO Box 1016, Madison, WI 53701 Phone: 608-258-0261 Email: [log in to unmask] Web: www.AfricanAssociationofMadison.org ################################################################################################# *** Send email to the list: [log in to unmask] *** *** Access AAM list archives: http://listserv.icors.org/archives/AAM.html ***