Do You See The Nigerian Government Banning Use Crypto Wallets?

[Pousinha]

I'm worrying about the news I'm reading about. Before Nigeria, other countries had banned cryptocurrencies.
In the African continent: Algeria and now Nigeria
Asian countries: Bangladesh, Nepal, Taiwan if I don't mistake and now India is considering the ban
East Europe: Macedonia
Latin America: Bolivia and Ecuador
Look, this tendency is appearing contagious

 

[eojo2401]

The Nigerian government is interested in seeing youths been jobless and live in poverty for there selfish interest. The worst they can do is what they have done by instructing the banks to close the accounts of all cryptocurrency traders but they can't ban the use of cryptocurrency wallet.

 

[Heatman]

I'm worrying about the news I'm reading about. Before Nigeria, other countries had banned cryptocurrencies.
In the African continent: Algeria and now Nigeria
Asian countries: Bangladesh, Nepal, Taiwan if I don't mistake and now India is considering the ban
East Europe: Macedonia
Latin America: Bolivia and Ecuador
Look, this tendency is appearing contagious

All they can do is issue out ban but I'm always sure that there will always be a way around on this sad development by our own government in Nigeria. They would just wake up one day and start one rubbish and make it a law but God is bigger than all of them joined together.

 

[Suba]

In my opinion, currently the Nigerian government is only blocking wallet sites, and if you access the wallet using a smartphone application, you can still connect, because banning the smartphone application takes a process and time.

 

[Heatman]

In my opinion, currently the Nigerian government is only blocking wallet sites, and if you access the wallet using a smartphone application, you can still connect, because banning the smartphone application takes a process and time.

Do they have the technology to ban such applications like Coinbase? They are simply bunch of people who are confused with what they want to do. They think that this would stop people from increasing their investments in cryptocurrency in Nigeria, but they have already failed.

 

[Dowenship]

Now that the Central Bank has recently asked Commercial Banks to close the accounts of all crypto currency related activities in their jurisdiction. Is there a likelihood that there may be a ban on the use of software apps that are majorly used for crptocurrency transactions? Do you a new rule that would impose a ban on the use of Apps like, Binance, Luno, Coinbase and other trading apps for buying and selling crypto? Remember they transWise has been banned in the Nigerian space.

Now that the Central Bank has recently asked Commercial Banks to close the accounts of all crypto currency related activities in their jurisdiction. Is there a likelihood that there may be a ban on the use of software apps that are majorly used for crptocurrency transactions? Do you a new rule that would impose a ban on the use of Apps like, Binance, Luno, Coinbase and other trading apps for buying and selling crypto? Remember they transWise has been banned in the Nigerian space.

Take it easy!! It isn't the cryoto itself they banned ooo! Actually its a warning to the banks to not be involved in crypto or whatever Meanwhile these rule as been in accordance since! But due to people were not yet informed about crypto like ttoday that even a new born baby av an idea. It now seem strange to Nigerians.

 

[Pousinha]

In my opinion, currently the Nigerian government is only blocking wallet sites, and if you access the wallet using a smartphone application, you can still connect, because banning the smartphone application takes a process and time.

In addition to smarthphone apps, there are worldwide computer based apps as for ex. Atomic Wallet or MyCryptoWallet (this latter only works for ethereum and its tokens, but I find it very good because it provides the paper wallet for free). Try coinbase too (it's useful when you have paying mobile apps that send payments only to coinbase): I suppose Nigerian government can't ban coinbase too, as it's international.

 

[Xerryl]

First of all is there no way they can regulate this thing Instead of ban?I just wonder how educated people in that cbn behaving like illiterate.this is another avenue where they can make billions in tax but they failed to see it.i just can't wait for this government to finish their tenure and go.

 

[Abisola]

The worse they can do is to prevent people from depositing in crytocurrency wallets through Nigerian banks

 

[Heatman]

Take it easy!! It isn't the cryoto itself they banned ooo! Actually its a warning to the banks to not be involved in crypto or whatever Meanwhile these rule as been in accordance since! But due to people were not yet informed about crypto like ttoday that even a new born baby av an idea. It now seem strange to Nigerians.

Exactly, it's just the banks that the central banks can control which is what they did by asking them to withdraw from paying any cryptocurrency accounts. They will eventually get tired and drop their sore policy against the people.

 

[Suba]

In addition to smarthphone apps, there are worldwide computer based apps as for ex. Atomic Wallet or MyCryptoWallet (this latter only works for ethereum and its tokens, but I find it very good because it provides the paper wallet for free). Try coinbase too (it's useful when you have paying mobile apps that send payments only to coinbase): I suppose Nigerian government can't ban coinbase too, as it's international.

What about the fate of crypto lovers in Nigeria, whether they stop all their crypto activities, at least there are representatives of crypto lovers to propose to the government that cryptocurrency activities are allowed to operate in Nigeria.

 

[Jesuyemi 08]

Yes just like we have been hearing it. The Nigeria government are trying to put an end to the use of crypto wallets which we don't know the reasons behind this.. We actually don't think there is need for them to do this but for them to set things right in the country.

 

[Sheyemanu]

Concerning your question, I really don't think they can actually ban cryptocurrency, because they know that it is not possible to do so , it would be really impossible for them to just ban crypto currency just like that i think, its only depositing in naira that would be banned. And also withdrawing in Naira, but crypto experts in Nigeria have told people to not panic, as they can use P2P

 

[Yasmin]

Binance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations.
[automerge]1612765211[/automerge]
Binance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations.

 

[Bholozy]

Nigerian government cannot be trusted in any situation. It's an agency where they pack semi illetrates and seem to know anything about crypto currency but even at that as the second largest market, am not sure there is much the government can do without the people finding another means

 

[Heatman]

What about the fate of crypto lovers in Nigeria, whether they stop all their crypto activities, at least there are representatives of crypto lovers to propose to the government that cryptocurrency activities are allowed to operate in Nigeria.

There is always a set back in any kind of business people are into and in Nigeria, their own set back is their government which is full of evil old men. Things will change sooner or later, I'm definitely sure about that.

 

[Janita]

yes I have here that Nigerian government will banne Crypto valid but it will be for a sufficient time because the crypto-currency followers or around the world and they are the big fan of the Crypto wallet so they will just Bann it for the little time but after time so it's not permanent it will be a type of temporary work but after sometime they will reopen it was many of the people has invested and bind Crypto wallet it is just for a little time bending process will happen.

 

[Heatman]

yes I have here that Nigerian government will banne Crypto valid but it will be for a sufficient time because the crypto-currency followers or around the world and they are the big fan of the Crypto wallet so they will just Bann it for the little time but after time so it's not permanent it will be a type of temporary work but after sometime they will reopen it was many of the people has invested and bind Crypto wallet it is just for a little time bending process will happen.

To be very honest with you, I'm not moved one bit by what the government of Nigeria has done together with the Central Bank. They are just being curious why these people would be making such amount of money without having to pay them huge. So, they are trying to get in a policy to task them more.

 

[KvngMurphy]

Not to talk too much but really this is absolutely the worst period of time to be a Nigerian or to be in the country our government is failed and they don't see how they can make it up to the citizens than causing more pains and making people's lives miserable. It's really fraustrating ones efforts but God help us

 

[Heatman]

Not to talk too much but really this is absolutely the worst period of time to be a Nigerian or to be in the country our government is failed and they don't see how they can make it up to the citizens than causing more pains and making people's lives miserable. It's really fraustrating ones efforts but God help us

The Nigerian government is only good in causing the problems that exist in the community and still turn around and blame on their citizens. Look at the mess the government have put everyone in who are trying to make a living for themselves. It's such a poor work from them, I'm really disappointed.