Nigeria's Crypto Ban: What's Your Take?

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#1 » by NiceGuy (m) VIP (β1,312.00) » February 7th, 2021, 8:26 am
On 5th of this month, Bestnaija reported the CBN directive to banks to close all accounts used for crypto trading.

Is this good move?
crypto Nigeria cbn.jpg
crypto Nigeria.jpg

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I'm really not that nice... :mrgreen:

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#2 » by Deon VIP (β1,197.00) » February 7th, 2021, 8:32 am
Bad move for those with bitcoins
Good move for those with bitcows
An eye for an eye left thousands blind,
remember that......

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#3 » by Sucrates (β78.00) » February 7th, 2021, 8:33 am
Deon wrote:Bad move for those with bitcoins
Good move for those with bitcows

And those with Bitcows are those without brain or understanding of the future that has caught up with them.

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#4 » by Ednut (β13.00) » February 7th, 2021, 9:10 am
Even Atiku says its not right:

Former Vice-President Atiku Abubakar: makes an appeal for cryptocurrency

Former vice-president Atiku Abubakar has urged the Buhari administration not to shut down cryptocurrency business, as announced by the Central Bank of Nigeria on Friday.

In a statement signed by him on Saturday, Atiku urged government to regulate the sector rather than embarking on an outright shutdown.

“This is definitely the wrong time to introduce policies that will restrict the inflow of capital into Nigeria, and I urge that the policy to prohibit the dealing and transaction of cryptocurrencies be revisited.

“It is possible to regulate the sub sector and prevent any abuse that may be inimical to national security. That may be a better option, than an outright shutdown”, he said.

The statement referenced the declining inflow of foreign capital into Nigeria from $23.9b in 2019 to $9.68b in 2020 and said the economy needs an expansion, rather than a contraction.

Read the full statement:

We Need To Open Up Our Economy, Not Close It

The number one challenge facing Nigeria is youth unemployment. In fact, it is not a challenge, it is an emergency. It affects our economy, and is exacerbating insecurity in the nation.

What Nigeria needs now, perhaps more than ever, are jobs and an opening up of our economy, especially after today’s report by the National Bureau of Statistics indicated that foreign capital inflow into Nigeria is at a four year low, having plummeted from $23.9 billion in 2019, to just $9.68 billion in 2020.

Already, the nation suffered severe economic losses from the border closure, and the effects of the #COVID19 pandemic.

This is definitely the wrong time to introduce policies that will restrict the inflow of capital into Nigeria, and I urge that the policy to prohibit the dealing and transaction of cryptocurrencies be revisited.

It is possible to regulate the sub sector and prevent any abuse that may be inimical to national security. That may be a better option, than an outright shutdown.

There is already immense economic pressure on our youths. It must be the job of the government, therefore, to reduce that pressure, rather than adding to it.

We must create jobs in Nigeria. We must expand the economy. We must remove every impediment towards investments. We owe the Nigerian people that much.


https://www.pmnewsnigeria.com/2021/02/0 ... -business/

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#5 » by makavelli25 VIP (β11,819.00) » February 7th, 2021, 10:48 pm
Anything to punish us
redeem and buy coins at a very good rate. just send a message,I reply in seconds

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#6 » by Omalemathias (β6.00) » February 8th, 2021, 10:50 am
It can not stand :

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#7 » by Johnmoon (β2.00) » February 8th, 2021, 6:10 pm
Very bad

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#8 » by Gyang1 (β6.00) » February 9th, 2021, 10:44 am
:lol; :D:

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#9 » by Thoresma32 (β59.00) » February 9th, 2021, 7:30 pm
:thnk: :thnk:

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#10 » by Delliboy (β6.00) » February 13th, 2021, 11:26 pm
A very bad move

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#11 » by echukwu337 (β66.00) » February 17th, 2021, 4:05 am
it is very much bad

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#12 » by Timiblack (β1.00) » February 19th, 2021, 1:44 am
Not good at all

This will cause violence in the society

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#13 » by Hennyhorla (β16.00) » February 19th, 2021, 3:55 am
:tu:

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#14 » by Glow95 (β2.00) » February 20th, 2021, 4:40 pm
:clap: :clap:

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#15 » by Glow95 (β2.00) » February 20th, 2021, 4:40 pm
:clap: :clap:

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#16 » by Yalade (β12.00) » February 21st, 2021, 11:13 am
Doesnt make sense

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#17 » by Alhaji440 VIP (β2,981.00) » February 21st, 2021, 12:20 pm
When 73%of people say its bad decision, then naija government, watch it

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#18 » by Omalemathias (β6.00) » February 23rd, 2021, 8:10 am
:clap:

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#19 » by Omalemathias (β6.00) » February 23rd, 2021, 8:11 am
You try

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#20 » by Omotola02 (β4.00) » March 5th, 2021, 2:29 am
Bad decision, it is just ignorance. It is something they can also invest in and would yield great results in helping our economy and society and our government can't see that and are ignorant of important facts

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#21 » by Idi12 (β18.00) » Yesterday, 1:59 am
:what: no I'd not possible


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