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Nigerian Senate Orders Investigation of Bitcoin Trading

A Cryptocurrency Mining Rig at Open Computing Pte Director Wilson Josup's Office
Photographer: We Leng Tay/Bloomberg

Lawmakers in Nigeria, where bitcoin trading grew the most in Africa last year, will probe the cryptocurrency and examine whether investments in it are viable.

The Senate Committee on Banking and Other Financial Institutions will “investigate the viability of bitcoin as a form of investment, come up with recommendations on how to control its uses and trade,” Deputy Senate President Ike Ekweremadu said while presiding over Tuesday’s session in the capital, Abuja.