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

  • Thread starter Thread starter Kingsley
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ahmedo24 said:
It is actually a risk worth taking by the El-Salvador though personally I don't know how stable, advance and promising their economy has been.
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I just don't know how stable or advance their economic stand might be. But i heard that their country isn't a that financial balance that's why they're adopting BTC as part of its means of generating more revenue.
 
GIFTMICHAEL said:
I just don't know how stable or advance their economic stand might be. But i heard that their country isn't a that financial balance that's why they're adopting BTC as part of its means of generating more revenue.
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It is actually a good move they just need to work round the clock nto to explore the opportunities in Crypto currencies, venezuela did the same thing.
 
ahmedo24 said:
It is actually a good move they just need to work round the clock nto to explore the opportunities in Crypto currencies, venezuela did the same thing.
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Yes, Venezuela did the same adopting Cryptocurrency as means of payment, and a way to sustain their dying digital currency.
 
anything that has to do with Nigerian government is always annoying to me because some of this thing they are doing it for their own selfish purposes,whatever time they feel comfortable to lift the ban on cryptocurrency they should go on and do it.
 
As a Nigerian i really don't care when they intend to lift the ban. A delusional decision that should have been well thought about before taken.
Tanzania is fast making plans on going crypto and its a disclaimer to the Nigerian authorities. It'll be a shame to allow another african country beat us to that title of being the first Afro nation to go Crypto full blast.
 
This is the question a lot of people have been asking. I don't even know if there's any plan to lift the ban but I think the next government may do so.
 
Nobody knows when Nigeria government are going lift the ban on crypto because government are not people that can go back to what they have said.
 
Trexxxy said:
I don't see the current Nigerian government reversing that policy. I think a change in cbn leadership or in government will see the reverse of the crypto ban.
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This present administration has caused so many setbacks, a change is indeed needed. Its clear that with their actions, they dont know what to do and what should be their number one priority.
 
eLdavis said:
This present administration has caused so many setbacks, a change is indeed needed. Its clear that with their actions, they dont know what to do and what should be their number one priority.
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For now i believe the ban on crypto currency by Nigerian givernment will still remain for a while now , the top people in the government at even having an argument on the ban of the cryptocurrency.
 
It isn't known when the federal government of Nigeria will lift the ban on cryptocurrency. The best way of getting funds into your local account, is through p2p.
 
Based in the information I have read. They do not have any plans to do so , however they are encouraged to try as much as possible to do something.
 
TTr
Shigobad2020 said:
For now i believe the ban on crypto currency by Nigerian givernment will still remain for a while now , the top people in the government at even having an argument on the ban of the cryptocurrency.
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True, for now it would still hold but if The CBN are true to their word of wanting to create a stable coin that is backed up by the naira, then they would have to remove the ban so people can invest in the coin. Thats if they are true to their word tho
 
eLdavis said:
TTr

True, for now it would still hold but if The CBN are true to their word of wanting to create a stable coin that is backed up by the naira, then they would have to remove the ban so people can invest in the coin. Thats if they are true to their word tho
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It will be a plus if they remove the ban though it is not compulsory that the coin won't survive without removing the ban because it is just a digital version of naira so people buying dollars could just be holding them digitally.
 
I think they will lift the ban on cryptocurrency when they are finally created their own cryptocurrency because there is no way we will be able to invest in their cryptocurrency if they do not lift the ban, this is the only way
 
ahmedo24 said:
Offcourse the government would have to regulate the activities and also ensure the exchange platforms are registered and kyc is enforce to avoid money laundering.
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We don't really know when the Central Bank of Nigeria and will lift the ban of Bitcoin in Nigeria because the ban is indefinite.
 
eLdavis said:
I believe the CBN would lift the ban very soon, currently they are making plans of creating their own crypto currency that would serve as a stable coin to help boost the value of the naira
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the Nigerian government is just a joke so that means if they didn't have any plan on creating their own cryptocurrency they would have not cared to lift the ban on direct deposit of money into the crypto exchanges, everything is just for their own selfish interest.
 
Jlife said:
the Nigerian government is just a joke so that means if they didn't have any plan on creating their own cryptocurrency they would have not cared to lift the ban on direct deposit of money into the crypto exchanges, everything is just for their own selfish interest.
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Not their own selfish Interest, what an individual look in to most times is the positive aspect of cryptocurrencies but as a country and as a government they give indebt analysis to both angles before taking decision.
 
Jlife said:
the Nigerian government is just a joke so that means if they didn't have any plan on creating their own cryptocurrency they would have not cared to lift the ban on direct deposit of money into the crypto exchanges, everything is just for their own selfish interest.
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Even right now, with all the talks about creating their own stable coin, there have not made any effort to remove the ban or even any talk related to that. I dont really think they know what they are doing.
 
eLdavis said:
This present administration has caused so many setbacks, a change is indeed needed. It's clear that with their actions, they don't know what to do and what should be their number one priority.
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Yeah, I mean all the policies the Nigerian government have put in place is having the opposite effect on the population. This just goes to show how lethargic and backwards thinkers they have in government.
 
I do not think there is planned yet by the federal government to lift the ban on cryptocurrency. The government of Nigeria do not have a solid reason for the ban of cryptocurrency, it was done as a result of some personal interest to some group of people.
 
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