A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said that $500 million worth of Bitcoin has been traded in Nigeria within the last 5 years.
This is as the former Presidential Candidate, who was once in charge of the financial systems directorate at the CBN said that many Nigerians trade in these cryptocurrencies because it protects them from the fluctuations in the value of the naira.