Vardanes2:


ThisDay is actually more pro-PDP than pro-APC.

Also, many countries take a poor view of cryptocurrency.

I dont care whichever party. The fulanis in either party have the same end goal. Smart people arise above the zoo politics. Who cares what party?

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.

.

Your point of view about Cryptos just show why u should sharap over a thing you don't know.
Why blab over a thing u don't know or you just want yo contribute as a noise maker

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.

What makes you think Crypto is not productive? I know how much I made by buying and holding Ethereum for about 5months. You think productivity is by carrying certificate around looking for job or probably be an Entrepreneur or going into Agriculture? Productivity is thinking smart.

They said kidnappers are collecting ransom with cryptocurrencies. I will also like to know if the Fulani herdsmen kidnapping people are also collecting crypto as ransom as well?

Am speechless but my online biz will never stop!

Felabrity:

PayPal blocked Western union, Tight Bitcoin transaction, blocked

They will always find another way

u mean u will always find anoda way

Lapdog government. Why didn't the US and their FBI ban the cryptocurrency in their own country to prevent their own citizens from sending out funds through it?

lexy2014:


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

The federal government serves United States interests.

EFCC arrests "yahoo boys" indiscriminately, because FBI has said that United States citizens are sending a lot of funds to Nigeria through these "boys".

CBN has now targeted cryptocurrency use in Nigeria, because FBI has said that 200 to 300 million dollars is transferred per week from the United States to Nigeria using cryptocurrency.

Ponzi schemes would definitely be banned if they are used by Nigerians against United States citizens.

Crypto na scam

Kaiser20:

Every where you go the whole world institutions and embassies want to block Nigerians. E be like say Nigerians scam for a living and they very proud about it.

which kind gist be this

But our Doctors, Nurses, Engineers, Software developers, etc are in demand worldwide. Steadily getting visas.

Bitcoin is going to be worthless someday.

If anyone tells you that the Nigerian government is interested in growing Nigerian economy, slap them across the face!

Just like the West has done since colonialism, they find constant ways to make sure the economy of African countries are comatose by every means. Including installing puppet leaders that sabotage any chance at growth.

SaintLucia:
Any institution that doesn't have a REGULATORY BODY is a fraud. Kudos to CBN. Many clowns commenting on social media doesn't even have idea how it works. Their only hatred is Buhari, but their ignorance didn't remind them that the CBN is an independent institution that has his own governor.

CBN ? independent?
This statement is laughable

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?

I appreciate your comment!

Spidermon:


CBN ? independent?
This statement is laughable

Any institution that doesn't have a REGULATORY BODY is a fraud. Kudos to CBN. Many clowns commenting on social media doesn't even have idea how it works. Their only hatred is Buhari, but their ignorance didn't remind them that the CBN is an independent institution that has his own governor.

Sorry go and read your WAEC past questions.

Can crptocurrencies legally take Nigerians out of poverty?

Is it a world wide legit transaction?

Who can enlighten us?

CBN is still after endsars funders. ...simple.

Hermzou:



u mean u will always find anoda way

don't be stupid

I said "they"

Nigeria leaders are simply lazy and lacking deas. They should have put regulatory measures in place. Don't we have fraudsters in Ghana and other countries were it's being operated. Even US, the MEGA fraudsters citadel in disguise is not banning it. All they know best is to justify wrong moves.

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

US FBI. No where in the passage was World Bank mentioned

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

This is just a defensive mechanism. Can bitcoin not be liquidated or converted by Nigerians in other countries tries of the world? Funding of the opposition, ENDSARS, economic liberation of the southern Youths amongst others factors not in the interest of northern hegemony informed this callous move.

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"

fear what? Its not as if security agents have effectively stopped kidnapping by tracing cash ransomes

what of those now using it as a legal hustle.

Birniwa:
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.

I think FG just need some time to effectively create regulatory policies around it before resuming it. Because they certainly know that Bitcoin is not the only avenue fraudsters use to "clean" their money, and they know that they are not supposed to throw the baby out with the bathwater.

My only problem with CBN, is it's directive that has hindered me from buying something online above $100. My little busy i want to start has now being on hold.

$200m a week in btc heading to Nigeria? This is bullshit. I don't believe that crap.

Besides how do they determine that the receiving wallets are 'Nigerian' owned/based wallets?

LofP:
Where is the proof that scammers moved money from the USA to Nigeria using Bitcoin?

If you don't know that yahoo boys cash out most of the stimulus benefits through BTC, then you're quite ignorant what's going on, or maybe you're just feigning ignorance like your lots here.

Proanalyst:
G

BOY

gtown:

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.

Regarding Investus...or Invictus Obi...everyone thought he was genuine. He covered his tracks so well, and very nearly escaped...

Omihanifa:


Let's even agree that so people are using cryptocurrency to aid their criminal activities does that mean the government should now ban it simply because of the criminal elements

It's just like saying the government should ban social media/ Internet simply because people are using it to do online scam, watching porn and insulting the president.

Only criminals benefit from crypto currency. How do normal citizens benefit? There may be a few like no inflation, but the benefits for criminals are far greater.

LR was banned by the USA.
Bitcoin is too hot to handle, so they passed it on to our fg through d cbn.

Activist001:
Before Cryptocurrencies, what were the scammers using? Why didn't they ban those mediums too?

This is a very lame excuse. Scammers get paid in legal money (fiat), why haven't we banned the use of money? Rubbish.

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.

wahala be like bicycle