Do you think the ban stamped by CBN on Naira to Crypto exchange will be reversed??

[eLdavis]

Oh yes am pretty sure the ban would be lifted up sooner or later. Because currently the CBN have started talking about creating their own stable coin "NIGCOIN" from an article i read, they believe it would help them reduce the demand for dollar and hence strengthen the naira. So it won't make sense to place a ban on crypto and at the same time create crypto. How do they want others to invest?

 

[Dowenship]

We all know the current state of Cryptocurrency in our country. Things aren't going well right now when it concerns crypto exchange. I heard today that the Nigerian senate have arranged a memorandum of understanding with CBN to reverse the current ban imposed on Naira to Cryptocurrency exchange. Cos they believe that the hard working Nigerian citizens earning legitimately through crypto investment shouldn't suffer more than they can. They have reviewed the issue and want to do something about it, based on the widespread rant caused by dissatisfied people that were heavily affected in the recent crypto ban pronouncement.

Do you think they can reach concrete consensus to come up with a solution to our problem and reverse the current ban??

Although till today, the restriction as not been reversed but the banking sector are not making thing easier either, earlier today you have to pay the telecom network before u can use any back ussd code...

 

[Sincerem]

Although till today, the restriction as not been reversed but the banking sector are not making thing easier either, earlier today you have to pay the telecom network before u can use any back ussd code...

Forget about the local bank, and focus on using the P2P to buy and sell crypto. I use internet banking, to psy for crypto when i need it from a merchant from my country.

 

[Trexxxy]

I don't see a reversal in policy changes, except a new administration comes in or perhaps a change in cbn leadership. This just goes to show how inept the government is and impervious to people's plight.

 

[Kunkun]

Well with the it would, because this government can't possibly last forever, hopefully the next government won't be as clueless as this present one and do the needful by reversing it

 

[Jlife]

The Nigerian government are just confuse in what they are doing, they are definitely ban the withdrawal of cryptocurrency directly to bank account and at the same time they are trying to create their own cryptocurrency, which side are they even standing for ?

 

[GIFTMICHAEL]

This people are just reluctant to reverse this ban stamped on Cryptocurrency. Nevertheless, even though they don't reverse it, I'm just settled using P2P.

 

[Kelly5]

I know that the ban will not be holding for too long or for many years. This is obviously going to be the outcome because some agencies if the government are also not in support of what the CBN has done

 

[Alexandoy]

I didn't know that Nigeria had also a ban on crypto but it's focused on the exchange to the currency. Maybe there is also a suspicion of money laundering that caused the ban. However, I know that Nigerian holders of crypto have their own way of bypassing the ban although the ban makes it difficult for them.

 

[Senator]

I know that the ban will not be holding for too long or for many years. This is obviously going to be the outcome because some agencies if the government are also not in support of what the CBN has done

Yes you're right. I know of an agency of the government like the Nigerian stock exchange that voiced it's displeasure on such ban by the CBN some months ago too. This ban will be lifted at some point

 

[Sincerem]

I don't see a reversal in policy changes, except a new administration comes in or perhaps a change in cbn leadership. This just goes to show how inept the government is and impervious to people's plight.

I agree with your thoughts dear, unless new administration comes in. If not this current administration that is just lurking around making unnecessary decisions can't lift the ban.

 

[Kayzzy3]

I don’t this current administration will ever reverse that bill. Just yesterday the central bank of Nigeria governor was invited into the senate house to give reasons about the recent ban and lot of senators supported him. Most cryptocurrency exchange have devised another strategy to help with withdrawals and deposits.

Though it's not a "Bill" it is just a a regulatory pronouncement, but it has made financial institutions to comply not withstanding. The current Adminstration doesn't really understand the issue on ground, and even if they don't reverse it, we hope the next will do.

Cryptocurrencies is not just a Nigerian thing, it's global.

 

[Jlife]

They are so annoying and they are also trying to create their own cryptocurrency when they have purposely bann cryptocurrency, they are just trying to do something they do not have an understanding about, such an annoying set of people.

 

[Sincerem]

Lol, its annoying that countries ban Cryptocurrency just to see their own coin introduce in the digital market ecosystem. We all know that it simply a waste of time they're doing, if they don't reverse the law that hinders crypto to Naira exchange. Such ambition with be prominent cos the market capitalization of the coin will be low.

 

[Sotherefore]

I don't know what the Nigerian government is trying to do because I don't see any need for them to ban direct deposit of money into cryptocurrency exchanges because that does not affect the economy of a country in any way negative, what is the essence of burning this thing sef ?

 

[Sincerem]

They're simply saying it is destroying their naira that banks are using such avenue to trade and it isn't helping to grow the Fiat currency that we traders should look elsewhere to trade Cryptocurrency.

 

[Josemendez]

We all know the current state of Cryptocurrency in our country. Things aren't going well right now when it concerns crypto exchange. I heard today that the Nigerian senate have arranged a memorandum of understanding with CBN to reverse the current ban imposed on Naira to Cryptocurrency exchange. Cos they believe that the hard working Nigerian citizens earning legitimately through crypto investment shouldn't suffer more than they can. They have reviewed the issue and want to do something about it, based on the widespread rant caused by dissatisfied people that were heavily affected in the recent crypto ban pronouncement.

Do you think they can reach concrete consensus to come up with a solution to our problem and reverse the current ban??

I believe that they may not easily reverse it especially now that there is a lot of issues in the country. They are scared that the citizens will soon have money that they won't have need for their election money

 

[Sincerem]

I believe that they may not easily reverse it especially now that there is a lot of issues in the country. They are scared that the citizens will soon have money that they won't have need for their election money

Laughs, the election is still more important to them than the life we're living. They don't even care about our well-being just them and their miserable election.

 

[Josemendez]

Laughs, the election is still more important to them than the life we're living. They don't even care about our well-being just them and their miserable election.

You know that when the citizens are financially dependent , they won't have time to collect peanuts for campaigning or voting for them .

 

[GIFTMICHAEL]

Let's see what the future holds for crypto in Nigeria before the end of the year. I heard that the CBN is trying to create their own digital currency. Let's see how this saga unfold in the coming days.