Thermodynamics:
you banned crypto currency because Buhari told you to, in a bid to prevent people from sponsoring any future protest against bad governance and oppression. CBN is corrupt, they should stop speaking English, we are not kids, we already know the truth.

chukemmang:
Only a fool will believe that the Nigerian government will make any policy that will be in favour of the citizens of Nigeria.

This buhari government are thieves. They have embezzled all pension funds. The sweat of all Nigerian workers. They now came to our money in the banks. They are starting with dormant accounts. When they finish stealing that one, they will now come to our normal accounts.

They are angry that they cannot access our Cryptocurrency and can see a lot of Nigerians getting smart and converting their naira to crypto. So they now came with this deceit to deceive ignorant Nigerians to leave money in their bank accounts so that they can steal it.

Yeye government.

Dosoq:
Naija I hail thee.

Pls,who has heard about SAGE INVESTMENT??
It offers 50% interest after 3months .

Want to know how legit it is to avoid stories that touch the heart��

Pls,if you have an idea,pls share

slawormiir:
Damnnn niggarrrr
mumu cbn.... perused through the article as I put on my intellectual cap to read between lines while blazing my weed....I must say this article is devoid and bereft of intellect and nous
We go dey do Ptpt
If you are a niggarrrr and you understand what I meant by ptpt then you must be a real niggarr...

Light up my last tie of weed for the night as i return back to my huzzle and bombing...whether Nigeria government like it or not ....there will always be light and fire at the end of my weed while I puff from the other end

All what this Nigeria government wants is for us to be young, dumb and broke.....we reject it...

slawormiir:
Damnnn niggarrrr
mumu cbn.... perused through the article as I put on my intellectual cap to read between lines while blazing my weed....I must say this article is devoid and bereft of intellect and nous
We go dey do Ptpt
If you are a niggarrrr and you understand what I meant by ptpt then you must be a real niggarr...

Light up my last tie of weed for the night as i return back to my huzzle and bombing...whether Nigeria government like it or not ....there will always be light and fire at the end of my weed while I puff from the other end

All what this Nigeria government wants is for us to be young, dumb and broke.....we reject it...

blackmaine:
Ogah we still dey buy btc we no gree for this one

PrinceMajestic:
nothing is innovative about it. It is just another deadly ponzi scheme like mmm. You Nigerians love to learn the hardest way. I remember in 2017 when fg repeatedly warned Nigerians on mmm scam but it was people like you who felt you are too wise that refused to listen and encouraged others to fall for the scam. If you're reasonble you will attest that CBN is absolutely right on its submission.

Dosoq:
Naija I hail thee.

Pls,who has heard about SAGE INVESTMENT??
It offers 50% interest after 3months .

Want to know how legit it is to avoid stories that touch the heart��

Pls,if you have an idea,pls share

GeneralPula:


The only reason why FG banned crypto is simply cuz they’ve discovered some politicians are now using it as a means to store stolen funds..

sharone21:
The best thing this government has ever done. We have the stock market, Nigerians home and abroad can invest in it as this can be done online eg Meristem stock brokers( not marketing for them though). Let us build our market and restore confidence in it.
Many Nigerians have been defrauded through cryptocurrency. A company like Luno will even hoard your money even when you have NO business with bitcoin, Luno or ponzi schemes. CBN well done and swiftly investigate LUNO company including other alternative routes they may want to access the hard earned cash of many Nigerians.
CBN THANKS. A LOT.

einsteine:
Silly arguments.

Have we banned 100 dollar bills even though that's the favourite way politicians store their loot?

jedisco:
Seems they just regurgitated some overflogged and ignorant cons or crypt0 without equally examining the pros.

Lets examine the reasons

1. Banned in other countries- definitely not in Canada. Even with the ban in China, 70% of bitc0in is mined in China. As per the remaining countries- their names speak for themselves. How about the US, Canada, UK etc who aloow it to be traded freely even by their banks? You can buy crypt0 from the bank app of some Western banks

2. WB- hehe. See what a central bank is saying. Hope they also asked him what he thinks of multiple exchange rates, paying fuel subsidy and giving scarce forex at a discount to those going on pilgrimage to spend in other countries. Also, how about asking him what he thought of current internet giants like Amazon, google e.t.c.. and why its not banned in his country. We should also ask Lord Lugard since we're asking dinosaurs

3. Andrew Bailey's speech- Bank of England Gov. Folks pls spare a minute and read his view on the crypt0 space.
It critically examines it all, pros and cons and how they regulate the sector. No wonder they colonised Nigeria. https://www.bankofengland.co.uk/speech/2020/andrew-bailey-speech-on-the-future-of-cryptocurrencies-and-stablecoins

4. 'Reports' on kidnapping, terrorism... This is so basic there is nothing to say. Lets hope the ban will stop herdsmen from kidnapping and pillaging the country.

5. Central bank backed digital currencies- the name variant means nothing. Whether its called crypt0 or central bank currency. The underlying tech is thesame.

6. Protect the youths- lol... This is the only time Nigeria wants to protect her youths more than the EU, UK, USA, Canada e.t.c... good protectors indeed.

7. Volatility- The volatility in the US stock market last year has made that of crypt0 look like a joke. Guess they should end their stock market to.

8. Legal tender- Bitc0in was never meant to replace fiat or be a legal tender. Countries can make fiat banking on thesame tech but bitc0in remains a store of value not a legal tender.


Never thought I'd say this but I'm ashamed of CBN and Nigeria.
Those in the sector know this does nothing. It only makes what is a simple process in other countries more complex here as usual.

Today, Asia (China) does the mining, the West own the exchanges, Africans are excluding themselves. Tomorrow, they'd say digital currencies were made to impoverish Africans.

It's February 2021. lets see how this decision will age.

Officialhorlah:

https://dailypost.ng/2021/02/07/breaking-why-we-banned-cryptocurrency-in-nigeria-cbn/

olaboy1:


I think it’s because the banks are complaining of low cash inflow. Customers are moving their money from the banks to crypto exchanges, this has affected lending power of the banks and thereby all that high interest rates are out of the window.
Before monkey they work gorilla they chop!!! The banks are fighting back so as to maintain their lavish lifestyles
The people vs the government
I see the people winning this one. The banks cannot force us to bring our money to them, and if they don’t join the movement they are going to be so left behind and obsolete. Nigerians will trade using stable coins as means of transactions p2p.
A lot of underground exchanges will spring up that are not taxable.
If they try to block isp using the telcos, many will switch to VPN forcing down the price of VPN.
The ease of cross border transfer of money to family and friends using crypto currencies cannot be over emphasized. We don’t have the time and energy to be on the phone with one bank account officer just to make a quick and emergency cross border transfer.

GOOOGLE504:
These people just like dubbing China. As if we run same type of government. MFs

Officialhorlah:

https://dailypost.ng/2021/02/07/breaking-why-we-banned-cryptocurrency-in-nigeria-cbn/