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[AudraMiller]

There was a recent development in Nigeria where the government put a ban on cryptocurrency in their banks and so many of the citizens in this country were unable to cash out on their crypto as well. However, in a recent speech that made by their vice president, the VP spoke very highly of crypto and the technology that backs cryptocurrencies, saying that there is definitely going to be a shift to crypto world and that Nigeria needs to plan for that accordingly. This shows that there is a bright future for Nigeria in the crypto field, and they may be soon revising their policies on cryptocurrencies.

 

[Wisdom01]

If you check very well it's the CBN executives that initiated the ban on crypto currency since they see that the revenue that they are gaining is actually low, since many people are no longer making use if bank for storing their money ,and i am happy the VP is going to do something about it

 

[Brain]

This post is really heart warming for me. I hope the words of the VP will be backed with action because they can renege on things a lot. I hope the reverse the ban as soon as possible

 

[ELSA-ELI]

This is indeed a relief to crypto enthusiasts in the named country. We all know that the more shift to embrace cryptocurrency the more diversification in Africa and wide spread use and or adoption.We can only keep our fingers crossed and hope for the rescind of this decision to be effected soonest.

 

[Niftyicon]

I do hope that the opinions of the vice president carry enough weight to cause a change in the decision made by the CBN. We'll see how things unfold.

 

[BullyMaguire]

Good to know he is trying to shift the decisions regarding the ban of Cryptocurrency on nigeria he is very open minded. That's how world leaders should be.. not afraid of changes

 

[Brain]

This is indeed a relief to crypto enthusiasts in the named country. We all know that the more shift to embrace cryptocurrency the more diversification in Africa and wide spread use and or adoption.We can only keep our fingers crossed and hope for the rescind of this decision to be effected soonest.

Yeah my fingers are crossed already I can want for this to pull through and I hope it never happens again because this is not their first time rejecting crypto currency. They should allow people make their choice

 

[sammyblaq]

This is indeed a relief to crypto enthusiasts in the named country. We all know that the more shift to embrace cryptocurrency the more diversification in Africa and wide spread use and or adoption.We can only keep our fingers crossed and hope for the rescind of this decision to be effected soonest.

Hey friend..
The problem of Nigeria is lack of synergy in the ruling circle. A country with many presidents. Directors acting just on their own selfish basis.
Where was the VP when CBN was about to issue the ban statement publicly? and he is coming out now to give a very good lines for the crypto clique.
Whatever, we will succeed

 

[microunit]

Probably at this point they are still unsure of crypto that's why they did a ban on it in the past, but probably they are already doing their research to also take advantage of what crypto can contribute into their country

 

[SCAMEXPOSER]

The Nigerian vice President in the very eloquent and well-studied man so he takes his time to study a lot of things before making comments .I'm very optimistic that his advice or opinion rather will go a long way in the decision of the Central Bank of Nigeria I'm sure the sec will be happy with the vice president opinion.

 

[sammyblaq]

Probably at this point they are still unsure of crypto that's why they did a ban on it in the past, but probably they are already doing their research to also take advantage of what crypto can contribute into their country

No no no.
WHo said they are unsure of Crypto¿.
All the guys that came together to produce that ban statement do crypto. It is just because they weren't generating what they used to. People are leaving the local currency/bank for crypto.
Why won't you leave when a bank that promises you interest in your savings account ends up charging you more than you expected¿.

 

[SCAMEXPOSER]

The Central Bank of Nigeria (CBN) has said that its decision to ban cryptocurrency was necessary to prevent crimes and mitigate risk and several Nigerians have condemned the move and believe the ban has some political undertone beyond those stated reasonings

However the Senate of Nigeria has summoned the CBN governor to explain the decision to ban cryptocurrency.

This has been done already and I think the resolution was for the Central Bank of Nigeria and the security exchange commission to work together to come up with a robust framework that can regulate cryptocurrencies instead of banning it.

 

[Yugocean]

Only those officials are banning cryptocurrency, who are late to get Bitcoin, they are jealous; perhaps Nigerian VP is trying to change the wrong ban.

 

[SCAMEXPOSER]

Only those officials are banning cryptocurrency, who are late to get Bitcoin, they are jealous; perhaps Nigerian VP is trying to change the wrong ban.

You may be right because lots of people never saw future in it , they call it bubble but now it is stable and mostly invested in by many people

 

[sammyblaq]

The Central Bank of Nigeria (CBN) has said that its decision to ban cryptocurrency was necessary to prevent crimes and mitigate risk and several Nigerians have condemned the move and believe the ban has some political undertone beyond those stated reasonings

However the Senate of Nigeria has summoned the CBN governor to explain the decision to ban cryptocurrency.

Which crime are they trying to prevent when they allow embezzlement from government officials. They just tagged cryptocurrency illegal because of its anonymous style and their own selfish reasons because people are moving their fund to crypto wallets and the banks are concerned.

 

[achawaskey]

Indeed, I believe it will soon be lifted because going by the word of VP it means something working in the background. Very soon we will expect to heard the change.

 

[Rollerkid]

There was a recent development in Nigeria where the government put a ban on cryptocurrency in their banks and so many of the citizens in this country were unable to cash out on their crypto as well. However, in a recent speech that made by their vice president, the VP spoke very highly of crypto and the technology that backs cryptocurrencies, saying that there is definitely going to be a shift to crypto world and that Nigeria needs to plan for that accordingly. This shows that there is a bright future for Nigeria in the crypto field, and they may be soon revising their policies on cryptocurrencies.

I hope they evaluate their decision very well and if possible, they should reverse the ban on their citizens. The case is that whether ban or not, they can't stop anyone into crypto for a while because there are ways to deal with that.

 

[microunit]

Well cryptocurrencies are decentralized that's why nobody really control them, except if you band-up a group of people or a group of whales then those entities can control the cryptocurrencies' price

 

[sammyblaq]

When it comes to Cryptocurrency, it is decentralized highly anonymous. So it is difficult at times to regulate every ongoing activities around it. That isn't an excuse by the Nigerian government to deprive their innocent citizens of using their fiat currency to exchange for crypto.

Yes you have a point. They can't submit to have 4ucked up real by throwing the ban but making excuses that it aids in illegal activities but they conveyed cash to the bandits that kidnapped students of a particular school in the north of the country.

Thank God for P2P,they can keep their ban.

 

[sammyblaq]

It is a known fate that Nigeria will definitely change their stand on the ban of cryptocurrency. No country can stop cryptocurrency it better to learn its strategy and make use of it for the benefit and growth of every nation economy. Nigeria will definitely remove the ban and look for a way to regulate its users in the country. Not to stop what you don't know it is run.

The Issue is that you can't regulate crypto as its transactions are highly decentralized but they can get close by marking tightly the platforms that does exchange from fiat to crypto VV.
How can the economy grow when the so called economists in charge are not playing along to what is growing other countries.