blamingthedevil:
Long over due....

Anybody not supporting the ban is a criminal.

What is the underlying commodity are you trading on?

You are obviously an illiterate

Thinkfree:
Please help me out.
I deposited 476,391naira into my 1xBet account from my tron(crypto) wallet, then i tried to transfer the money to my first bank account but it was rejected, that i have to stake the whole money on at least (1.1) odds before i could make any withdrawals. I used the whole money to play Greuther Furth (4 - 1 )Wurzburger Kickers over 1.5 goals with 1.20 odds which gave me 571.669 naira but still can't withdraw.
Please i need help anybody with idea.

call customer service fa..

Flier:
USA arrest people that use cryptocurrency to launder millions of dollars every day but they did not ban cryptocurrency
This country is just useless

Sure, we have the technology, economic strength and network to fight it.

blamingthedevil:
Long over due....

Anybody not supporting the ban is a criminal.

What is the underlying commodity are you trading on?

The criminals will cry and wail but will refuse to engage in productive ventures. Crypto trade is not productive from my point of view. I am yet to see.

DrDax:


Not a fan of dirty money, but you cannot make the majority pay for the sins of the few.

Interesting that stolen billions are readily received by these Western countries without due diligence yet our own government is rushing to block the inflow of funds into the economy without a second thought.

It is well.

Aren't we all paying for the sins of Adam and Eve?

Una papa



So because beans makes some people to purge will you now ban the eating of beans?

Government doesn’t know whot their priorities are.. unemployment rate is scaringly on an all time high.. youth are out of jobs, small businesses are being frustrated on a daily basis..

Should thunder not fire these bastards notori olorun??

b3llo:
The ban on cryptocurrency is targeted at fraudsters based here. the cybercrimes and atrocities committed by these unfortunate set of people have affected hard working and sincere individuals.

The day I fear cryptocurrency was the day some kidnappers requested for ransom through "Bitcoin"

Very sensible man spotted.... Only fools speak against the Government for this actions

Unclefemolala:


BTCUSD..it's actually pegged against dollar just like Gold XAUUSD .It's a store of value against currency devaluation..meaning when Dollar rises, it falls and vice versa...All big US Equity ,Asset Mgt and Capital investment companies have all invested their Assets in Btc instead of Gold.and thus its the newest safe haven for investors when normal High beta asset like stocks and currency fails.
Understand and read more about it

There's BTCUSD, BTCNaira and as many currencies as you want. That's not a real commodity.

You can't compare it with Gold which is a real commodity.

joey150:


If your first response to this is afterall the politicians are already stealing, then you should seriously question your education. If one man gets away with murder, must we then use the excuse to pardon all murderers?

This issue is more akin to a murderer uses a knife to kill someone, so therefore we need to ban all knife purchases. To prevent future murders.

Yahoo boys will still find ways to steal, kidnappers will still collect ransom through their previous methods.
The crime itself hasn't been prevented nor dealt with.
It is the persons that use crypto for legitimate purposes that will suffer the most.

doxijaw:
The only thing that matters in life is enlightened self interest.

The west aren't your friends nor have any stake in saving you, this goes to the African white loving coons.

Puppets and brainwashed fools will always be at the bottom of the barrel.

They created cryptocurrency though.

If they didn't want you to participate they would have included it in their protocol.

This is just like banning guns and other weapons because its used by kidnappers and bandits.......... Useless gov.

CodeTemplar:
The ban is the right move if indeed the remittances involved fraudulent money. Money is meant to facilitate exchange of service and products and not to just develop wings and fly into Nigeria without any corresponding outflow of services or products.

Like the alleged "half of CBN" that Gowon stashed in the UK.

The west is not your friend...

Is it just me or are this people just brain dead. They will just be flexing muscle anyhow, they never think anything through. It is simple and short, bitcoin isn't like bank accounts you can stop anyhow. If they stop it here the person can just go to Ghana and cash out. Why cripple your economy to chase clouts. Bitcoin is here to stay and even with the know your customer charade that is going on, It's still going to remain anonymous. I use a mobile wallet and a ledger nano. I can just move to Ghana and cash out anyhow I want. Do these people even do research. Something you should be romancing and taxing Luno and Binance to make small over the counter profit. You are shutting it down. Mumuric people. Well ghana and other serious countries will be collecting that money. Prohibiting cryptocurrency is the worst possible way to fight cyber crime

goody2019:


The criminals will cry and wail but will refuse to engage in productive ventures. Crypto trade is not productive from my point of view. I am yet to see.

I won't say so.

But trust anything Naija people are involved in they would apply all manner of illegalities in it.

Genuine cryptocurrencies are worth investing in.

Golan007:


They created cryptocurrency though.

If they didn't want you to participate they would have included it in their protocol.

They?

I thought they were still looking for the creator's

Wasn't it satoshi at one point, then the fbi?

Westerner's are not to be held by their word's but actions

doxijaw:


They?

I thought they were still looking for the creator's

Wasn't it satoshi at one point, then the fbi?

Westerner's are not too be held by their word's but actions

Satoshi is just a moniker.

Omihanifa:
So because of activities of Yahoo boys and kidnappers the world Bank told the CBN to ban crypto currency and like a fool too the CBN agreed

If not that the Nigerian government is foolish aren't they suppose to weigh the pros and cons before enforcing the directive.

What can't dey ask the same United States why they haven't banned crypto currency in their own country

Just a press of nuclear code and the entire Nigeria is gone. Nigeria and the USA can not negotiate on the same level! Even the UK didn't negotiate on the same level with EU after brexit!

lexy2014:


But d nigerian govt is yet to ban Ponzi schemes in nigeria. Is it waiting for FBI warning before it does so?

CBN must be dumb to wait this long to do the needful. And it is doing it halfhazardly. Ponzi schemes are still scamming people daily. Peoples accounts are being cleared.

It's all lies,but let's assume that it was true,could fg not tell them to go Bleep themselves,?

Honestly banning this crypto thing by the FG/CBN changes nothing to core traders. P2P transactions have way more advantages compared to using automated transactions because; you have no limits on what amount of coins/fiat you can deposit or withdraw, your transactions are private, no one knows on what purpose you're buying/selling crypto through the P2P payment methods unlike the automated ones that can be trailed and traced.

Again, with exchanges or no exchanges, you can still transact using the P2P. Let these crooks keep implementing policies on technologies they do not even understand. If you have been using crypto for a long time, just know that this new policy won't change anything for you.

joey150:
Truth be told, cryptocurrency, with its "anonymity', have given several unscrupulous scamming elements the propensity to scam unabated and without fear.

Having an unregulated and largely anonymous global currency might sound cool, but when you think of all the harm that 10% of the world population can and will do with it, it would greatly outnumber the benefits for the other 90%.

I know yahoo boys that have made a killing through scamming people, getting the funds converted into crypto and using one of the multiple exchanges here to withdraw their funds. A regular banking system would leave a paper trail that's easy to follow. Blockchain can be traced, but it's a very complex process that can be made even harder for those that can get around it.

We know some people are genuine crypto traders and have positive use for crypto. But the fear is, in a country like Nigeria, scammers will do the worst with it.

The government should rightfully be worried that millions of dollars that they cannot regulate, trace or control, is being syphoned in and out of this country via cryptocurrency.


Point of correction, cryptocurrency wasn't banned. The government cannot ban cryptocurrency because it's a digital currency. The government has only told exchanges that we cannot continue to allow you to exchange and covert naira to a digital coin that we have no direct control over.

It's a controversial decision, but given that politicians can launder money with it in seconds, yahoo boys can dupe with it in minutes and kidnappers can demand untraceable ransoms, you'll see why this extreme step may have been taken.

If your first response to this is afterall the politicians are already stealing, then you should seriously question your education. If one man gets away with murder, must we then use the excuse to pardon all murderers?

My thoughts after carefully weighing the pros and cons.
We are fighting terrorism as well, could easily be funded through crypto.

there are lot of foolish and gullible people here in nairaland..see all your comments, the illiterate govt will always fool you, what they will do to your children will be worst than what they do to your father, your grand father and you
.. slaves.

you can't blame them since they know Nigeria is being Run By Old Fools That Don't even know or Understand What Bitcoin or Cryptocurrency means


All they know is Loot the Federal Budget as their only means of Income

Omihanifa:
So because of activities of Yahoo boys and kidnappers the world Bank told the CBN to ban crypto currency and like a fool too the CBN agreed

If not that the Nigerian government is foolish aren't they suppose to weigh the pros and cons before enforcing the directive.

What can't dey ask the same United States why they haven't banned crypto currency in their own country

doxijaw:


They?

I thought they were still looking for the creator's

Wasn't it satoshi at one point, then the fbi?

Westerner's are not to be held by their word's but actions

Believe fg and cbn believe anything. They're liars.

Bitcoin is not banned in the U.K. nor USA,so why will fbi ask them to ban it in Nigeria?

This's why I refused to be governed by fools. .

Omihanifa:
So because of activities of Yahoo boys and kidnappers the world Bank told the CBN to ban crypto currency and like a fool too the CBN agreed

If not that the Nigerian government is foolish aren't they suppose to weigh the pros and cons before enforcing the directive.

What can't dey ask the same United States why they haven't banned crypto currency in their own country

Believe CBN and the naija govt at your own peril. They will say anything to justify their unreasonable actions.

Maxymilliano:
So you mean Nigeria had to be ban something that brings the country 200 - 300m every week because Nigeria has no economic underlining basis for having such money in cryptocurrency?

This is how oyibo help us to destroy our country by deceiving and enforcing stoopid policies on us.

This doesn’t even make sense and I know it’s a cover up story by the government

Oh!
I thought I was the only one seeing this.

The story doesn't make any sense at all.
It's just a PR shot by the Government.

CryptoRepublic1:


Believe fg and cbn believe anything. They're liars .

Puppets they are!

catice:
Crypto currency is illegal in the United States. Please do the research.

You're wrong o, crypto currency is legal in the US. It's just that they don't treat it like a currency but rather like a property.

b3llo:
The ban on cryptocurrency is targeted at fraudsters based here. the cybercrimes and atrocities committed by these unfortunate set of people have affected hard working and sincere individuals.

The day I fear cryptocurrency was the day some kidnappers requested for ransom through "Bitcoin"

Some few comments above don't know the danger involved and how fraudulent it is. They are against it because they assume everything is politics. Since Atiku is against it, so they are too. But what does Atiku know better than the FG and the FBI that blew the alarm light. An instance is this; before Investus (an internet fraudster) was nabbed by the FIB recently, Atiku cited him as an example of a great hard working guy Nigerian youths should emulate. Maybe, he wasn't aware what business the doing then to be swimming in money. Such is his ignorance on the present issue.
Atiku lacked intelligence report to condemn the FG criminalizing cryto.