Bitcoin and crypto currency ban in Nigeria

[Lekhraj19]

Yes, I have also heard of this issue from one of the posts here. It's quite bad for the people who have been working there on this trade and I believe that many people who have been doing trading on it may have stuck their money on the site as the platform is banned. There has been issues on it in India too, but they didn't ban it. I got the information about the policies in India that there are discussions there in the parliament on it.



But, if I would be a user of that platform I would like to improve it, and increase privacy rules, but not ban it.

 

[Augusta]

I really don't understand our leaders problems,when the whole world accept crytocurrency as another mode of payment globally but yet our president sees it as something that's not legal..
They should explain what's legal to use,when the world globally is going forward,but our president decided to set us back as a nation...
At times I blame my grandfather for bringing me to this kind of a country,because nothing seems to work for us over here...I hope God gives us a good leader in the year 2023 ...
And lastly if there is any chance or opportunity for me to leave this country,I won't hesitate to leave all because am tired of their evil deeds and setting us back as a nation..

As in the problem of Nigeria is tiring, leaders always coming up with policies that are not favorable to it's citizens and the economy. When the world is moving ahead, Nigeria will either want to start still or move background, it is really appalling. I know central bank right from time never liked the idea of crypto currency and I kind of saw this banning coming. The financial advisers of the country needs to do more or else will continue to sink deep more into debt and financial instability

 

[Deleted member 27583]

The apex bank in Nigeria, the central bank of Nigeria has placed a ban on Bitcoin and crypto currency on all banks and other financial institutions. It has directed all accounts that were used for bitcoin and crypto currency trading in the country to be closed instantly. This debate of allowing Bitcoin or crypto currency to be used by the citizens have been ongoing since 2018, now the decision have been taken and it is a No no from them.

It was stated In their report yesterday that citizens should note that crypto currency isn't recognized by the country as a legal tender. So what is your thought on this? Is it that the government don't recognize the potential of Bitcoin and crypto currency yet?

I really don't understand our leaders problems,when the whole world accept crytocurrency as another mode of payment globally but yet our president sees it as something that's not legal..
They should explain what's legal to use,when the world globally is going forward,but our president decided to set us back as a nation...
At times I blame my grandfather for bringing me to this kind of a country,because nothing seems to work for us over here...I hope God gives us a good leader in the year 2023 ...
And lastly if there is any chance or opportunity for me to leave this country,I won't hesitate to leave all because am tired of their evil deeds and setting us back as a nation..