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When will the CBN lift the ban on crypto currency in Nigeria?

  • Thread starter Thread starter Kingsley
  • Start date Start date
Let's keep hoping thst sooner rather than later the CBN government will reverse the ban entrusted around crypto to naira exchange.
 
I will also be glad if the ban
can be reverse as soon as possible because it will even most the trading volume of Nigerians and possibly make a lot of exchange platform to be more active in Nigeria.
 
Nobody knows when the ban will be litfed. It is really affecting Nigerians that are into crypto trading or investing. Nobody is able to withdraw or deposit on any crypto platform. Am sure it will be lifted before the end of the year. But some platform have find an alternative way of making transactions
 
It seems the ban will go on indefinitely. No talk is on about reversing the decision anytime soon, so we might as well live with it. This is something we have to accept and live with as Nigerians, we have no choice.
 
I don't really know if the ban on cryptocurrencies will be lifted by the Nigerian government but I think there are still alternatives in which we use to do our thing.
 
Ralphjoe said:
There are some indications that the Nigerian government will soon lift the ban on cryptocurrency transactions in the banking sector as the Nigerian securities and exchange commission are already making a framework to be regulating the cryptocurrency world.
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That would be cool, because the Nigerian government would place a ban on something and forget, see the ban on Twitter, no one is saying anything.
 
Everyone is anticipating to that, but with the way things are going with Cryptocurrency I don't think the CBN government will lift such ban.
 
I don't think the government are actually ready to make any meaningful changes towards the ban of crypto currency exchange Business in nigeria. As it is now one really need to look elsewhere to get into the sector
 
Me i don't see that happening now or anytime soon oh because the truth is my country that does not make any sort of profit or interest from this platform surely will not want to let it be considering the county rather be destroyed with poverty than for them to agree to it oh. My country is brutal oh when it comes to greediness because the money they no go chop they rather starve you.
 
Nurudeen said:
I don't think the government are actually ready to make any meaningful changes towards the ban of crypto currency exchange Business in nigeria. As it is now one really need to look elsewhere to get into the sector
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There are many countries that are involved in this ban and i think that this will change in the future when they see the impact that it can have on the economy of those countries that are starting to legalize it. Hopefully this will result in many governments changing and supporting the cryptocurrency exchanges moving forward.
 
Prettyjanie said:
That would be cool, because the Nigerian government would place a ban on something and forget, see the ban on Twitter, no one is saying anything.
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This is the same reason why I said that this ban on cryptocurrency used it in the banking system is going to remain as long as this administration still remains in power so all we just have to do is to wait till the termination of this current administration.
 
Niftyyem said:
I do hope that it happens very soon. The p2p is great but it would be nice to be able to buy crypto and withdraw directly to my bank account straight from the exchange platform.
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Despite all the positive news we have received concerning the adoption of crypto from the Nigerian financial institute, its seems nothing is forthcoming from then regarding this issue..
 
According to report the nigerian authorities are ready to launch their own personal coin and I don't think they can do this without enabling crypto currency exchange Business in the country so you people should hope for a good news.
 
Dowenship said:
Despite all the positive news we have received concerning the adoption of crypto from the Nigerian financial institute, its seems nothing is forthcoming from then regarding this issue..
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Yeah! Maybe there are some background discussions ongoing but I think that the ban may last way longer than we initially thought since it seems less voices are speaking about it now.
 
They said they are going to remove the ban placed and I think for some time now they have not remove the ban placed , many people are still Making use of crypto currency despite the ban
 
To be sincere this is something that you can not said because it seems like this present government has already forgotten about crypto currency may be when another government come they can lift the ban.
 
I think I have learned that whenever it comes to resolving issues in Nigeria it's normally a long call with several politics involved but thankfully we have several means of depositing and withdrawing in the market.
 
Its been over six months today since the ban was enforced between Cryptocurrency and naira. It will surely take time before it will be rescinded.
 
Cbn should lift the ban on crypto currency soon because exchanging our crypto currency on peer-to-peer exchange websites is not profitable as we withdraw our fund from luno.
Are the government even talking about restoring crypto currency back
 
The centralmbank of Nigeria have not still made any direct statement as tothe fate of the cryptocurrency ban situation in Nigeria till today. Even if the come up with this their digital currency which isn't going to be a cryptocurrency, that will still be a problem
 
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