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dre11:
•Christine Lagarde: Bitcoin facilitates questionable transactions

•Nigeria surged to second highest crypto destination in the world raking $200 to $300million a week without underlining economic activity, alarming the CBN

•FG alarmed kidnappers had switched to bitcoin for ransom payments



https://www.thisdaylive.com/index.php/2021/02/07/how-fbi-warned-fg-cbn-on-scammers-using-cryptocurrencies-to-defraud-the-west/

Is it the same America that told them to BAN FX to naira?

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

That's the problem with you guys. Instead of you to call on youths to shun yahoo, you are criticizing the government; meanwhile we have paypal, draft2digital, 4chan, eBay, etc banning us for the same reasons.

Looool they are now looking for justification. Germany, Holland, Spain, Japan, and the UK that have favorable and meaningful approach towards crypto, don't know what they are doing abi. Analogue government.

goody2019:


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.

Someone made over $1bn in the dark net selling drugs using Bitcoin as payment in the US. The guy was later arrested and jailed but the US didn't stop their banks from dealing with customers that use Bitcoin even though Bitcoin is seen as the only major threat to the US $$$.

Infact i dare say that most Ponzi's are not using Bitcoin.

Was MMM ponzi only in Bitcoin?

Are Forex Ponzi's in Bitcoin too?


To the truly naive people here, Bitcoin transactions can be easily traced by our security guys. Few years ago there was a Kidnap syndicate in Abuja that demand bitcoin from their victims, they were easily caught by the DSS.

Do not believe the lies from the pit of hell that Bitcoin transactions can't be traced.

omoadeleye:
All these kidnappers and fraudsters, God should help us real hustlers.

Amen oo.. my goal is $5000 legit internet biz this month..im already on my way with about 21cents

ibietela2:
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Exactly!!!

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.

U have to cash out the same way it came in meaning it must go to your crypto account. I'll suggest u use a third party

bestower:
I was just duped... You guys wouldn't believe me... Those guys are smart, upgraded their professionalism by joining hands with some bank officials... My brothers if you hear cryptocurrency.... Runnnnn like if Usain Bolt is pursuing you with Igbo cutlass... My little piece of advice..

thats the danger of crypto. No regulation. U money can simply disappear without a trace and u cant go to police, you cant go to CBN. Sorry.

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"

Those kidnappers can be traced!

signz:


Someone made over $1bn in the dark net selling drugs using Bitcoin as payment in the US. The guy was later arrested and jailed but the US didn't stop their banks from dealing with customers that use Bitcoin even though Bitcoin is seen as the only major threat to the US $$$.

Infact i dare say that most Ponzi's are not using Bitcoin.

Was MMM ponzi only in Bitcoin?

Are Forex Ponzi's in Bitcoin too?


To the truly naive people here, Bitcoin transactions can be easily traced by our security guys. Few years ago there was a Kidnap syndicate in Abuja that demand bitcoin from their victims, they were easily caught by the DSS.

Do not believe the lies from the pit of hell that Bitcoin transactions can't be traced.

The commercial banks and CBN are behind this cryptocurrency restrictions

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"

And you weren't afraid the day you heard that some governors were paying some bandits in cash.

Note that if there wasn't cash or cryptocurrency ,criminals would ask for payments in gold, diamonds and even cows.

Treat the wound and not the symptoms.

Yahoo activities will now be shifted to Neighbouring Africa countries. They really cannot stop these fraudsters with this their new policy.

Nigeria of late gives me concern, they don't even do any proper analysis or even small analysis before jumping in something(they did it board close only to realise the negative impact later).How can someone in his country tell you something about ur economy on Wednesday, and on Friday u have already taken decision against your country.
I'm sure those men on top has not yet realized that the white men does not have any good plan for us. If you look at this properly it may just affecting their country alone.(my though anyway)
As for kiddnappers, the only set of kidnappers disturbing the peace of the country right now are the fulani herdsmen and and bandits and they only take cash.
The set that demands for ransom in bitcoin are still few and police should try and catch them in the act of kidnapping not at the stage of collecting ransom because at the ransom stage their work is already over 70% completed.

Sailor1:
This is a post from another thread

Have you ever heard of cold wallets and wallet mixing?.
Do you know there are cryptocurrencies that are totally inert to tracing?

This is actually very wrong. For better understanding, why won't the US direct her banks to do the same, thereby blocking channels that transfers money back?

About the kidnappers, isn't its ironical that it is under a former military personnel that the nation is undergoing its worst security crises till date?

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"

Shut up which day..

They have given u guys line to lie wit...

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

Same way they deceived our forefathers in the past and took away their kinsmen as slaves across the Atlantic. More than 4 centuries later, the same script is being played .. Black people are daft

doxijaw:


What did abacha sell to Switzerland that allowed him to move millions of dollars into swizz banks?

Think! You seriously believe in the efficient market theory , it will take another three thousand years for you people to wake up.

why is Switzerland repertrating the money back to Nigeria if the money is legit?

Kaduna1stson:
FBI might mean many different things.

Fulani
Brothers
Information

Lmaooo with its international headquarters @ in the deep bushes of the Abuja - Zaria highway

Timi1990:



You must be high on Egusi !!!!! . Crypto is 100% legal in the USA and North America

Crypto is not legal in the usa,it is even banned in some places in the usa.Know what you say,crypto is pseudolegal

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.

You can only withdraw through the medium you sed in depositing.Sorry

thatigboman:
why is Switzerland repertrating the money back to Nigeria if the money is legit?

Why did they accept it initially?
How much interest did they collect and how much have they paid back?

My brother make i keep quiet, na small small dose of truths Nigerians need.

MyOpinion1:
And the CBN foolishly follow the directive not minding the economic implications..
When will total slavery end for God sake

It actually has no economic implications, since cryptotransactions were not remitting anything to the coffers of the govt

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

Any FBI statement or investigation to back this up?

If this tip is from America, surely there must be a percentage of funds reported in the US media as missing funds. Any news? Because the US congress has yet to approve stimulus since November 2020, so what stimulus funds are they talking about?

You no hear say simple bank dey close?

And Atiku was pleading with the FG to reverse the ban.. .this man sha

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.

Sorry go and read your WAEC past questions.

No, ideally a central bank should be an independent body, but is Nigeria's central bank really independent, or do they just perform the binding of the FG?

And the CBN governor is appointed through which means again?

blingxx:


you naive as fvck ..what yahooboys steal are just tip of the iceberg compared to what the west have stolen from us before we learnt how to speak their language ,go and watch this movies "blood diamond,hacker,wolf of wallstreet" these movies are based on real life yahoo boys are learners compared to what India,russian and Chinese hackers are doing

I understand that the west has stolen from Africa and still continue to, but doesn’t mean you should retaliate in a hoodlum fashion. What yahoo boys are doing is not making Nigerian better in anyway. Two wrong don’t make a right. You should be afraid of the future of your children if you are ever to give birth here. No amount of yahoo will ever make this country a better place. But of course that not what you’re after, you just needed an excuse to steal.

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?

Regulate it, don't block it.
That is foolish.

The US is still the largest bitcoin market in the world.

So why are cows that have caused the deaths of millions of Nigerians is not yet banned?

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.

Sorry go and read your WAEC past questions.

Son, I wrote WAEC a very long time ago. The fact that you are even thinking of WAEC in 2021 shows I am quoting a neophyte.

My inference is that you are just a multi-cellular organism, you are not yet a fully formed human being with elaborate mental faculties.

What do you even know about cryptocurrency? Or even the f**king CBN ??

I was talking of the CBN as an institution far from being Independent
Does this cut the picture of an Independent decision maker?

This was me being nice.
If you quote me again, 'amma dice you up.

michoim:
And Atiku was pleading with the FG to reverse the ban.. .this man sha

Yes, because he is smart and progressive.
Internet fraudsters use the internet.

Why have your govt not blocked the internet?

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

They even suggested regulation but FG. chose ban.