Nigeria CBN's cryptocurrency ban - what do you think?

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

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NiceGuy
Senior
Location: Lagos
 

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

Please share...

I'm really not that nice... :mrgreen:
User avatar
Deon
VIP VIP
Location: Some where in Nigeria
 

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......
Sucrates
Senior
 

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.
User avatar
Ednut
Junior
 

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/
User avatar
makavelli25
VIP VIP
 

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
Timiblack
Newbie
 

February 19th, 2021, 1:44 am

Not good at all

This will cause violence in the society
User avatar
Alhaji440
Junior
 

February 21st, 2021, 12:20 pm

When 73%of people say its bad decision, then naija government, watch it
Omotola02
Newbie
Location: Lagos,Nigeria
 

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
User avatar
Dube
VIP VIP
Location: Yola
 

March 16th, 2021, 6:16 pm

Na nonesense
Follow me on Instagram: https://www.instagram.com/chukwubunna
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Luckydaniel221
Newbie
 

March 17th, 2021, 9:40 am

Ednut wrote: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 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/
Billy1990
Newbie
 

March 19th, 2021, 11:44 am

I don't support the banning of crypto currency.
Yastic
Newbie
Location: Egunme
 

June 12th, 2021, 6:52 am

The risen of crypyo currency
Teezollars10101
Newbie
 

December 19th, 2021, 8:26 pm

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User avatar
Sally
Senior
Location: Kaduna
 

February 6th, 2022, 4:28 pm

Nice
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