The fate of Crypto currency in Nigeria

[Sotherefore]

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.

Yes that is true Google have to block it because a lot of people were giving a Bad review about the app ,so they CBN have to do some amendment on the app and arrange certain things to make sure that they app run perfectly for people to use it easily.

 

[eLdavis]

Yes that is true Google have to block it because a lot of people were giving a Bad review about the app ,so they CBN have to do some amendment on the app and arrange certain things to make sure that they app run perfectly for people to use it easily.

I didn't really expect much from a Naija related project though, probably they would have given the project to someone who ate half of the money as usually, then gave them inferior product. Would you invest on the eNaira after everything has been sorted out?

 

[Keibah]

For those of us in Nigeria, i was going through the internet recently and i came across an article that said the Central Bank of Nigeria has removed the Ban on crypto currency. I decided to do some little research today but could not find any legit news or article about the ban being lifted. Has anyone seen or heard any legit update so far about the ban on crypto currency in Nigeria?

Apart from the launch of E-naira, I haven't heard or read any credible news regarding the lift of the ban on cryptocurrency in Nigeria. As if that has stopped crypto transactions in any way. The government has never known how to handle anything that sometimes you can't help but wonder.

 

[eLdavis]

Apart from the launch of E-naira, I haven't heard or read any credible news regarding the lift of the ban on cryptocurrency in Nigeria. As if that has stopped crypto transactions in any way. The government has never known how to handle anything that sometimes you can't help but wonder.

The simple truth is that they are clueless, they just drop laws that do not make sense in anyway, neither does it relate to the growth and development of the economy. How can you place a ban on crypto currency then turn around to create your own crypto currency, how do they expect to get investors?

 

[Keibah]

We can only see how far this clownish behavior goes. Instead of embracing cryptocurrency, which is here to stay and finding a balance with local fiat.

 

[Sotherefore]

I didn't really expect much from a Naija related project though, probably they would have given the project to someone who ate half of the money as usually, then gave them inferior product. Would you invest on the eNaira after everything has been sorted out?

I don't even have that in my plan now ,most of my concentration now is to invest in cryptocurrency and that is what I will be doing for a long time, the e naira is just like a Nigerian currency in which the value is depreciating everyday.

 

[Seno inyang]

The Nigerian government had set a ban on crypto currency few months back and later the ban was lifted. As it stands I don't really know the fate of crypto currency for now till 2023.

 

[Bookwormlux]

Crypto currencies have stole continue to wax stronger despise the ban and I believe that any new government would revise the ban on crypto currencies.

 

[Ononivami]

The ban as not been lifted yet. The country imposed a ban on cryptocurrency because of the insurgency and terrorism. They believed that these organisations are funded using cryptocurrencies.

 

[HayKay]

I heard recently that the government was trying or they actually created their own e-currency that obviously didn't fly due to a lot of glitches that it had.
I think governments around the world should let this be and instead tax the crypto exchanges or transactions so they don't lose out entirely.

 

[Sotherefore]

The government may not really have any intention to ban cryptocurrency here in Nigeria, what really happens is that cryptocurrency is believed by most government official as a project that speed up the rate of criminal activities when they themselves has not purposely decided to stopped corruption.

 

[Ektalakra]

By looking at the popularity of crypto in Nigeria I don't think that government will ban crypto in Nigeria, but it had imposed restrictions on cryptocurrencies-related transactions in the banking sector.

 

[Chibson]

By looking at the popularity of crypto in Nigeria I don't think that government will ban crypto in Nigeria, but it had imposed restrictions on cryptocurrencies-related transactions in the banking sector.

I think the ban in cryptocurrency even made it very popular in Nigeria. even though banking institutions were restricted from transacting in cryptocurrency what that was not stopped people from cashing out.