Until the current Nigerian government leaves office, then be rest assured that cryptocurrency remains banned. It seems the government is only in power to create stupid and meaningless policies.
The fate of Crypto currency in Nigeria
- Thread starter eLdavis
- Start date
Nigeria suspend twitter simply because the government believed twitter will spoil there government based on what CNN did to trump administration.
I don't think Nigeria government has anything to do about Cryptocurrency this time they belief they didn't banned it but they restricted the banks and other financial institutions from Cryptocurrency. Anyway we shall. sail through
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The Nigerian financial regulatory Bodies are not foward looking seeing as Nigeria is still a third world country,they banned crypto currency and launched their own virtual currency which isn't making headway
I have not come across such update this days but I dont believe such can happen or the federal government to banned the operation of cryptocurrency the only thing I know is that the fate of cryptocurrency can only be associated with the lack of knowledge about the operation of the market.
With the level of knowledge and technology that our people in Nigeria are becoming used to the system the fate of cryptocurrency in the country will be less because the reason for the fate is the lack of knowledge that people dont have much idea about what cryptocurrency is.
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With the level of knowledge and technology that our people in Nigeria are becoming used to the system the fate of cryptocurrency in the country will be less because the reason for the fate is the lack of knowledge that people dont have much idea about what cryptocurrency is.
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I recently heard a news that luno wallet was wanting to sign a deal with the government to allow citizens to be able to buy cryptocurrencies with their bank cards and I think that is very good news.
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Sadly the government haven't lifted the bank on crypto curriencies yet
Government's banning of crypto currency cannot stop people from using crypto currencies because crypto currency exist only on the internet, as long as people can use internet, they can also use cryptos.
The only way i see crypto future in Nigeria to be legalised is when their is a new president who will uplift the banned of crypto currency but for now crypto is not legal
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Nigeria's government like to focus on frivolities, leaving the lapses they should put in effort at a sore state. The fate of cryptocurrency is indecisive because the government has placed the ban due to the fact that, cryptocurrency is decentralized. They want a system that is centralised so they can use it for their selfish interest but recently I think they came up with an e-naira which I won't invest in such!
No update yet but most crypto people in Nigeria seem to care less about that. The CBN only banned Nigerians from using their bank accounts to transact crypto directly. Since the P2P has been in existence, i feel less affected by the ban because via p2p, i can withdraw from my wallet and deposit as well. I just have to make sure i don't get scammed.
It is false news. There has been a ban on crypto for months and it will continue until the next government. Probably you think that the launch of enaira is the way they remove the ban but no, it isn't
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One thing I can say is that people will continue to trade with cryptocurrency in Nigeria. This will be possible as a result of peer-to-peer features in some of the wallet of cryptocurrency. So people don't need to move money through bank to invest in cryptocurrency.
For the fact that you did not see this in any other news website on the internet shows that it is not true, if this was true you could have heard it on the news and a lot of other platform including here would have announced it for people to read and understand.
- Thread starter
- #135
Yes that issue has been sorted out, it was just a rumor. Till now the ban on crypto currency has not been lifted and I really do not think Nigeria has any plans for that right now. Have you heard any updates about their crypto currency?
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Do you really mean the digital currency that was issued by the Central Bank of Nigeria ? as for that one I don't really know the function of such in the economy of the country, they should just unbanned cryptocurrency for us because that is what we wanted and they have taken it from us.
I do not reside in Nigeria, so I am not sure what will be the fate of crypto in Nigeria. However, if the Nigerian government adapts crypto just like many other developed nations did, then I believe that crypto can actually bring foreign aid in Nigeria and help the people in there.
For me I would say what's to come is so brilliant for digital forms of money in Nigeria as the public authority is given a non-verbal communication that shows that they have begun creating revenue on the lookout, in fact they are proposing to lunch another naira coin so Nigeria won't be forgotten about.
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That was the biggest lie of the century. Nigeria has never and will not remove the crypto ban in the next few years. That was how I saw that Nigeria has removed the ban on Twitter. Unfortunately, I could not access it without a VPN.
- Thread starter
- #140
Yes that's the one am talking about. I completely agree with you, right now it has no use. I heard the app was removed from playstore because of bad reviews, though i do not know if it's a legit news.
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