The Nigerian Government bans Crytpocurrency.

[Bookwormlux]

This ban does not change anything,we now makeuse of binance peer to peer market place to do our transactions. They are just wasting their time.

 

[Bagg victor]

a very bad news I am totally against this new directives from the Central Bank of Nigeria. I mean why would they ban cryptocurrencies transaction in Nigeria? This is not a good policy from the government at all because I don't see how Cryptocurrency transaction affects the economy negatively

 

[Victor001]

There is practically nothing much to be done, we can only do our best by voting them off, else we are at the mercies of degeneration and mental depreciation.

 

[Kelly5]

The dust has settled on this case a very long time ago. People go about their transaction the best way they possibly can now without infringement

 

[Shigobad2020]

is a very wrong move from Nigerian government Nigeria is the second highest country with cryptocurrency trading and may have side effect later

Some government are always greedy , they always want to put themselves at the centre of attraction, and because they realise they can't gaining from the crypto currency transaction, they decided to block it.

 

[Nomad]

Many governments, mostly in the developing world, are threatened by crypto currencies, therefore, they are banning cryptos or blocking crypto transactions. This shows that they are not ready for new changes

 

[Mostee501]

I personally feel that the main reason why the Nigerian government bans cryptocurrency is due to the fact that they feel it posses a threat to their fiat money.

 

[eLdavis]

This issue has been on ground for some time now, and honestly i dont even know what to say and i am even tired. The Nigerian government is just clueless, they know very well that there are no jobs out there and many now rely on crypto as a means of survival. They are taking this from the people, without a replacement, its just m*dness

 

[Alexandoy]

I wonder how many Nigerians are dealing with crypto coins why there is a "backlash" against the government by the Nigerians. Don't they know the thing called law that is the rule of the country and should be followed by the citizens? Fans of crypto coins are usually out of touch with reality into thinking that crypto coin is a real currency that can replace their country's money.

 

[gammarays]

I wonder how many Nigerians are dealing with crypto coins why there is a "backlash" against the government by the Nigerians. Don't they know the thing called law that is the rule of the country and should be followed by the citizens? Fans of crypto coins are usually out of touch with reality into thinking that crypto coin is a real currency that can replace their country's money.

Well the issue is that Nigerians are adventurous in nature and always love taking risks when it comes to investments. We believe crypto is a new investment haven and it has blessed so many people. It has its disadvantage but can change your fortunes with time.

 

[Dowenship]

The Central Bank of Nigeria just directed all Financial Institutions to close the accounts of those dealing with crypto transactions.

The apex bank threatened extreme regulatory sanctions on organizations that may break its order.
This new development has received alot of negative backlash from Nigerians.

I am 100% Against this motive, I know crytpocurrencies may be affecting our economy negatively but there are better and more strategic ways to deal with it and not outright ban.

What do you think of this new development?

Have been seeing this statement of crypto currency affecting our economy negatively, but I don't really understand how crypto is affecting the economy... Can anyone have a theory to back this up.

 

[joy101]

This is very bad for Nigeria government to ban cryptocurrency in the country the Nigeria government is not trying at all, for the decision them make.

 

[Lens]

Cryptocurrency isn't affecting our economy negatively. It's rather unfortunate that we are governed by clueless leaders whose interests is self based. In the developed nations, cryptocurrency have been used as instruments to uplift the economy of the state. For instance, miami used bitcoin adoption to mitigate inflation rate in the municipal.

 

[Dagm1]

This is actually an extremely problem I'm completely versus this brand-brand new regulations coming from the Main Financial institution of Nigeria. I imply why will they prohibit cryptocurrencies deal in Nigeria? This is actually certainly not a great plan coming from the federal authorities whatsoever since I do not view exactly how Cryptocurrency deal impacts the economic climate adversely.

 

[Thinker009]

Yeah i saw the development ,and I think it's a wrong move by the government , cryptocurrency have helped reduce the rate of unemployment in the country , I don't know why the government want to ban it

 

[Elfinito]

Banning of crypto currency is Nigeria is said to be much political because the youths have found a new avenue of making money and so thus leaving the streets where politicians used them ask thugs to archive their greedy goals, so you to get the attention of these youths back, they want to block all forms where they iuths can make money

 

[Justin]

Crypto is banned in my country as well. However, crypto was banned from the beginning, it was never legal here. INterestingly, despite the ban, people are are already investing and trading crypto currency.

 

[Sotherefore]

Yeah i saw the development ,and I think it's a wrong move by the government , cryptocurrency have helped reduce the rate of unemployment in the country , I don't know why the government want to ban it

This is a complete misplaced of priority and there should be no point at any time should the Nigerian government considered cryptocurrency to be an illegal activities that promote scammers in the country, it is unfair and this really shows lack of regulation and proper research by the Nigerian government.

 

[Thinker009]

This is a complete misplaced of priority and there should be no point at any time should the Nigerian government considered cryptocurrency to be an illegal activities that promote scammers in the country, it is unfair and this really shows lack of regulation and proper research by the Nigerian government.

It's really a complete misplaced priority ,there are even certain sector that needs development in which the government needs to focus more on , but it chose to pick this certain one that is benefiting the masses

 

[Sincerem]

Though it has been banned per say but transactions are still Carried out using Crypto currency. It only affects funding your crypto wallet directly from your bank account so if you don't tag it as a crypto transaction then it wouldn't be affected.