Kennysplash
Verified member
On the first week of February the Nigerian government and CBN banned the use of cryptocurrency in Nigeria. Their reason is that it affects the local currency, naira in a negative way. But is the ban really effective? No. What they can ban is the transaction of cryptocurrency wallet to bank account. So you cannot perform this transaction without being caught. But transaction of cryptocurrency is still going on through peer to peer transactions. You sell your coins and you receive your payment via bank transfer
So no one knows what really went on. Therefore I can say that the ban has been rendered ineffective.
So no one knows what really went on. Therefore I can say that the ban has been rendered ineffective.