Nigeria Threatens to ban P2P transactions

[Riberet19]

The Nigerian Securities and Exchange Commission (SEC) alleges that crypto participants and exchanges are manipulating the Naira's value through P2P transactions. Emomotimi Agama, the newly appointed Director-General, suggests delisting the Naira from all P2P platforms as a remedy.

Agama highlighted the government’s resolve to combat the perceived threat, saying:

“This is one of the things we must do to save this space.”​

The potential P2P ban would significantly restrict Nigerian crypto investors. P2P platforms offer a convenient and often cheaper way to buy and sell crypto using local currency compared to traditional exchange channels. With the Naira delisted, Nigerians would face hurdles in entering and exiting the crypto market, potentially hindering its growth and adoption.

Full news: https://bitcoinist.com/nigeria-threatens-to-ban-p2p-transactions/

 

[stan358]

I do not see any good reason behind the recent outburst by the government to ban P2P exchanges in the country. It is a misplaced priority..

 

[Riberet19]

I do not see any good reason behind the recent outburst by the government to ban P2P exchanges in the country. It is a misplaced priority..

You will know well how authoritarian governments act, everything that can get out of their hands and take away their power, will be eliminated.