The Independent Corrupt Practices and Other Related Offences Commission said regulation of the cryptocurrency trading in Nigeria would help to prevent the swindling of unsuspecting members of the public.
The chairman of the ICPC, Prof. Bolaji Owasanoye, stated this at the opening of a two-day capacity building retreat for members of House of Representatives’ Committee on Anti-Corruption, and board members and directors of the Commission in Uyo, Akwa Ibom State.
ICPC spokesperson, Azuka Ogugua, said the retreat deliberated on corruption, IFFs and financing for national development.
Speaking at the event, Owasanoye said the ICPC is set to strengthen its collaboration with the House of Representatives in addressing corruption and Illicit Financial Flows (IFFs) in the country.
He said regulations were required from the legislature to eradicate corruption and IFFs.
He said there was the need for more regulations to address IFFs and other related offences, stating that the breaches in the law and absence of regulatory framework have encouraged perpetrators of the crimes to continue to engage in the crime.