The ban on Crypto currency in Nigeria

[Haypril]

As we all know, Crypto currency is a new way to store and transact value. Compared to normal financial networks, Crypto currencies are able to operate without central authorities and that has made Crypto currencies the first and ever open, safe and borderless currency. It transactions are untraceable and that has been the more reason why some institutions and nations had decided to place a ban on it. Nigeria has an independent nation also joined in the ban of the digital currency.
What is your say on the ban placed on Crypto currencies in Nigeria, should the government relieve the ban or make a regulation to guide the use of the currency in the country? Share your opinion here.

 

[Olajidey]

People are wise now when it comes to keeping their fund, imagine you keep your fund in the bank for a year and you have the same amount of money in your crypto wallet by the end of the year if you will have little or no interest in the money you keep at the bank but if you check your crypto wallet you will be amazed of what your profit is.

 

[Augusta]

They should be please remove the ban and allow people the pleasure of taking the decision to either continue or leave the crypto world. We can take this decision without having to be regulated by any authority. This is really unfair for the masses .Alot of people were surviving from transacting and trading these digital assets

 

[Finger Geek]

Nigeria government banning crypto currency. I don't think they no what they have done. They have made things hard for people like me and you that uses crypto currency. Not it is not easy to withdraw our money to our bank account. Before this ban. Nigeria is the second largest market for Crypto currency after USA. But I believe they will lift the ban soon.

 

[btaliat]

This is not the first time Nigerian government will meddle in cryptocurrency. The ban will soon be lifted, I hope. I am very sure that government banned it because they are not gaining from it. Assuming they are gaining from it, they wnt have done what they did. And the funniest thing is that they don't provide jobs for the citizens.

 

[Sammyesx]

I believe the restriction on cryptocurrency by the Nigeria government is not a very good move, they will definitely lose all the money they would have gotten from taxes and transaction charges related to cryptocurrency transactions. People will definitely look another alternative to go about their transaction, like the peer to peer on binance, which is even a better option.

 

[Haypril]

People are wise now when it comes to keeping their fund, imagine you keep your fund in the bank for a year and you have the same amount of money in your crypto wallet by the end of the year if you will have little or no interest in the money you keep at the bank but if you check your crypto wallet you will be amazed of what your profit is.

you are right bro and I believe government cannot totally stop the citizens from investing, or transacting in Crypto currencies. Only the weak seems to have given up because it now difficult to buy or sell without going through another user (p2p). Just like me, I prefer having nothing to do with anyone when it comes to Crypto investment for the fear of being scam. That was why I felt the pain when the ban was placed on Crypto currencies in Nigeria.

 

[Ahmedo24]

The restriction is temporary because the Central Bank of Nigeria I should receive the lot of criticisms than support so obviously and the Senate committee on banking and ICT meet with them and the SEC, I'm sure they will resolve and it's the resolution is going to be or may likely be regulation instead of outright ban.