Ottyn01:
This Government is just making life hard for the youth

Useless government Govern by a cow

Naija youth we move

SeunAdeniyi1:
People like Patricia go cry this year o.

It was high time the government ban crypto exchanges. It is one of the things killing our useless naira. People would rather store their funds in bitcoin and co. than to store it in naira.

softset:
I have always said it that this government is run by insane people. How could you just wake up and make such a decision?

I won't blame them, next election, if you like collect 5000 you will get worse treatment.

Look at NIN, some idiot just woke up and made a decision without putting lots of things into consideration, so I arrive Nigeria now with no way to get a phone number. Many government decisions are never thought through.

We deserve better than what we are getting, Nigerians are smart people, we should never settle for less , mediocrity should not be an option when choosing leaders

thebosstrevor1:


Na you no get sense.

Many donations for the endsar protest were received through crypto

Activist001:
First was their shitty policy on FX which is making it hell on earth for online business owners and freelancers to recieve money from abroad to Nigeria, now it's banning transactions with crypto exchanges.

What kind of useless government is this for God's sake?

SeunAdeniyi1:
People like Patricia go cry this year o.

It was high time the government ban crypto exchanges. It is one of the things killing our useless naira. People would rather store their funds in bitcoin and co. than to store it in naira.

MisterGrace:
Likely reason:

1. They are trying to frustrate one A-list politician who is intending sale his crypto currencies to fund 2023 campaign.
2. They want to monopolize the crypto market as they did to the dollars.
3. The brain behind this ban is either daft or he/she is a stark illiterate.
4. They want to render a section of the country financially powerless.

Either ways, this government is bent on destroying all contemporary advancement that we toiled hard to acquire.

Very demonic lots.

Rikidony:
guys pls hold on, what does this mean, is it that all my money i invest in Luno, Roqqu, Binance and Abitrader is gone and i cant withdraw back my money, because I'm not understanding..

thebosstrevor1:
The endsar protest created the ban.

Seyzcham91:
the part of section of the country render powerless i believe that is

south west and south east cuz those are where we have the braniac computer literate that deal crypto not in the north that only killing and banditry they are known for

lalasticlala:
CBN Shuts Down Cryptocurrency Exchange Bank Accounts

"February 5, 2021

LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS AND OTHER FINANCIAL INSTITUTIONS

The Central of Bank of Nigeria's (CBN) circular of January 12, 2017 ref FPR/DIR/GEN/C1R,06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the pubic so the risk associated with transactions In crypto currency refers.

Father to earlier regulatory directives on the subject, the Bank hereby wishes to remind regulated institutions that dealing in crypto curencies or facilitating payments for cryptocurrency exchanges is prohibited. Accordingly, all DMBs.

NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating crypto currency exchanges within tier systemsand ensure that such accounts are closed immediately. Please note that breaches of this directive will attract severe regulatory sanctions. This letter is with immediate effect."

Osaretin Victor Asemota @asemota shared it on Twitter and wrote:



https://twitter.com/asemota/status/1357647685801676802

A Twitter user, Futurist @nathaniel_luz, reacted:


https://twitter.com/nathaniel_luz/status/1357648314016096256?s=19

paulolee:
nooo naaa...i thought crypto currency is taking over...as an economist I'll surely analyse short run n long run reasons for this new policy..
I would like to know how positively it would improve d monetary policy of our economy and alos the effect it would have on our already weakened naira currency...

capitalzero:


Exactly. Crypto is a threat to CBN, forex, stocks, bonds and other traditional financial institutions.
Criminals like drug barons also use crypto for money laundry.
If crypto overshadows traditional financial institutions, CBN will not able to make effective monetary and financial regulatory policy.
Also, wef with other world financial organisations is planning for great reset of currency. I do not know the detail.

paulolee:
nooo naaa...i thought crypto currency is taking over...as an economist I'll surely analyse short run n long run reasons for this new policy..
I would like to know how positively it would improve d monetary policy of our economy and alos the effect it would have on our already weakened naira currency...

Rikidony:
guys pls hold on, what does this mean, is it that all my money i invest in Luno, Roqqu, Binance and Abitrader is gone and i cant withdraw back my money, because I'm not understanding..

SeunAdeniyi1:
People like Patricia go cry this year o.

It was high time the government ban crypto exchanges. It is one of the things killing our useless naira. People would rather store their funds in bitcoin and co. than to store it in naira.

thebosstrevor1:
The endsar protest created the ban.

miracle4:
Back in 2017? Did you even read the post at all?

MisterGrace:
Likely reason:

1. They are trying to frustrate one A-list politician who is intending sale his crypto currencies to fund 2023 campaign.
2. They want to monopolize the crypto market as they did to the dollars.
3. The brain behind this ban is either daft or he/she is a stark illiterate.
4. They want to render a section of the country financially powerless.

Either ways, this government is bent on destroying all contemporary advancement that we toiled hard to acquire.

Very demonic lots.