[s]

post=98838959:

For all those fraudsters giving Nigeria a bad name in and out of the country.
All the corrupt money you make thinking you are enjoying life and making others cry and commit suicide will be your downfall in life.
Y'all will never have the peace and long life to enjoy your blood money.
You keep making things difficult for the genuine, honest and hardworking Nigerians like us out there.
Your fraudulent lifestyle has caused a lot of genuine business people untold hardship.
You will all end miserably in life if you don't desist from your criminality.
Bastards.


And some lazy illiterates that politics and hatred for Nigeria has eaten into their empty brain were all wailing online that it is because of their illiterate uncle,
Sunday igbo whatever that the CBN stopped crypto for now.
Annoying lazy tins on cyberspace, they will never use the remaining small part of their almost empty brain to think logically for once.


It is always good and refreshing to see we still have reasonable and sensible members like you on this forum.
Though you guys are few, we still appreciate your truthful contributions.
With people like you, the future of our country is secured.
Stay blessed.

[/s]
But you are unreasonable. You think backward all the time.

Spidermon:


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.

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.

Yankee101:
If Nigeria eventually collapses, it won't be ethnicity or tribalism that will be the cause

It will be corruption
It will be fraud
It will be dishonesty
It will be a lack in integrity

I concur....I have always wondered what E money do for a living.

IMAliyu:

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?

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 and the CBN.

Those of you shouting fraud fraud!!! naija dey do fraud? Those yam and beans fraud na una dey call fraud? Same west warning CBN about cryptos fraud has the highest and biggest fraudsters. Some of the biggest cryptos exchangers in the world have their base in same west. Why haven't they ban them? Go-to the deep web and see how these fraudsters are cashing out on big corporations like amazon, paypal, banks and the rest. I read a story the other day how a guy was charged for fraud. He was installing crypto mining softwares on people's devices without them knowing. That guy had a whooping $60M worth of bitcoin in his wallet. He refused to give the wallet keys to the authorities and he was sentenced to just 3 years jail term. And you say naija dey do fraud. Fraud never even start for naija in the next 5 - 10 years naija go know weytin them dey call fraud.

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

The money made from crypto were does it go, to the sky I guess
Did you know how many youths are making daily bread through crypto.
Movement to and from bank also attract charges and millions of transaction are done per day
Instead of them to regularise t and put restrictions on amounts of money you can withdraw for crypto transactions, they are doing like over know it all..
Digital currency has come to stay, the way fait money take over from cowries and barter.

Why am I not surprised. The US through the instrumentality of the World Bank, IMF, USAID, AFDB amongst others has Nigeria by the phallus and can dictate anything and everything to this government and they have no choice but to comply.
Lets analyse the reason for the ban of Crypto currency in Nigeria according to this report. Crypto currency transactions worth 200 to 300 Million dollars in value is being sent to Nigeria every week allegedly from fraudulent activities. Lets analyse this. Most crypto currency transactions are anonymous so how did they get this data? Whilst I would never say some of the transactions are criminal. Why are they also quick to assume that the entire volume of crypto currencies transaction to Nigeria are proceeds of crime? Nigerians overseas remit billions of dollars to Nigeria yearly.
The US government in league with the Nigerian Government restricted paypal, western union and even withdrawals from domiciliary accounts. How did they expect Nigerians in diaspora to remit the billions of dollars to Nigeria yearly and without the huge transaction costs associated with regular remittances.
2ndly Big banks and other financial institutions in the US are proficient in making billions of dollars disappear from the US banking systems to offshore accounts on behalf of their customers who are US citizens and businesses for tax avoidance purposes. Why have they not plugged that loophole?
3rdly what is stopping the Nigerian yahoo boys from continuing to convert their ill gotten USDs to crypto currencies and trading it directly peer to peer or via the dark web? The only people this CBN directive have stopped are companies that are offering crypto currencies exchange platforms legally. They have created jobs and pay taxes.
I believe this is payback for #ENDSARS protests and to prevent it from ever happening again.
Lastly why is the american financial system so porous inspite of their much touted techical sophistication and competence?
Why shouldn't they fix their systems at home instead of trying to plug the leakages.

All these western countries including China have continued to rip us up for decades. They take our resources sometimes freely, mostly cheap and whenever they invest they take majority of the profit and repartriate them home without any issues. If any western companies have any major issues doing business in Nigeria, they get their government involved. One phone call to Aso Rock and they are home free. Yet we continue to protect their interest solely and they continue to jack our chain.
Nigeria is not an independent state and have never been one since our so called independence.

ivolt:

That is a very bad example.
You don't need to sell anything to move deposit money into a bank.

Are you following the thread?

Read again to understand how we got here.

stupid story. the same crypto is not ban in the USA. It is in Nigeria and her policymakers will be acting like people with no brain

To be frank,this cryptocurrency ban don make yahoo guys for my neighbourhood go broke.I hear wey one of them dey beg him girlfriend to send him #5k.Na him dey take care of this girl o.This yahoo guy wey i dey talk so dey build house for my home state O.He dey buy Dangote Cement wey na #5k per bag,wey the high cost don even make house contractors abandoned their work cos of the high price of cement but this yahoo guy no shake because him money no be legal way.E be like say he get Bitcoins wey him nova convert before dem close the account.

Awoo88:
stupid story. the same crypto is not ban in the USA. It is in Nigeria and her policymakers will be acting like people with no brain

Yahoo boys dey use am Lauder money that's why dem ban am here.You know say our government wan borrow money from imf,E get certain condition wey them go give Nigerian government before them go give them loan.

The dollar is the undisputed currency for illegal trade and shady dealings. Agents if darkness that dont want the financial emancipation of Africa

Banks remain the number one channels frauds get carried out from, so when are we banning the banks?

MyOpinion1:

The money made from crypto were does it go, to the sky I guess
Did you know how many youths are making daily bread through crypto.
Movement to and from bank also attract charges and millions of transaction are done per day
Instead of them to regularise t and put restrictions on amounts of money you can withdraw for crypto transactions, they are doing like over know it all..
Digital currency has come to stay, the way fait money take over from cowries and barter.

My dear leave all this slow pokes. Why has the FBI not gone against Wall Street imstitutions invesying in crypto?

Joysticks:
Yahoo boys dey use am Lauder money that's why dem ban am here.You know say our government wan borrow money from imf,E get certain condition wey them go give Nigerian government before them go give them loan.

If you won see money laundering, go America and those small country wen be their neighbours. Nobody do yahoo reach America.

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 and the CBN.

You're a broken record or a bot I see.

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.

Wall Street institutions are investing in crypto.they are setting up digital units for clients who want to add crypto in their porfolio. Do you know how much Morgan Stanley has in Grayscale? Even the SEC (of US) just approved a digital bank that would deal on crypto. Mastercard and Visa are launching their crypto cards. Go and read and stop exposing your ignorance

afroxyz:


Wall Street institutions are investing in crypto.they are setting up digital units for clients who want to add crypto in their porfolio. Do you know how much Morgan Stanley has in Grayscale? Even the SEC (of US) just approved a digital bank that would deal on crypto. Mastercard and Visa are launching their crypto cards. Go and read and stop exposing your ignorance

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 and CBN act of 2007. We are not talking of Wall Street and Master card here.

IMAliyu:

You're a broken record or a bot I see.

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.

ZooOga:
Insecurity sponsor/s loading? Just asking.

"•FG alarmed kidnappers had switched to bitcoin for ransom payments"

Atiku Appeals To Buhari: Don’t Shut Down Cryptocurrency Business - Politics - Nairaland

https://www.nairaland.com/6402010/atiku-appeals-buhari-dont-shut

Cryptocurrency is legal and highly encouraged in first world countries, stop thinking like a caveman

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.

A

https://news.bitcoin.com/report-bitcoin-overtakes-gold-in-the-u-s-as-the-4th-most-popular-investment-vehicle/

Bitcoin has overtaken Gold as the fourth most popular investment in america.

But they told Nigerian govt to ban it and Nigeria did.

You think you have a govt in Nigeria? You don't.

The rest of the world will teach us that the 21st century is no joke.

The federal government and CBN are oponu and lazy, now FBI has given you a hint that your country is the second largest crypto destination in the world and you only saw the negative effect and nothing positive about it abi. Instead of blocking the crypto activities of both legitimate and fraudulent transaction, why not mandate all crypto currency firms and app to keep log of all transactions initiated on their platform which can only be requested for through a court order in case there's a need for it. As much as its difficult to track crypto movement and transfers, at least all these transactions happen on an app in the country. And if the company keeps logs of transaction they can produce evidence of receipt or transfer of the currency. And also u can charge a percentage as facilitation fees to keep everything in check. And this will also bring in money to the pocket of the government

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.

Your only hatred and problem is ur brain,fight it

rajiedreez:
The federal government and CBN are oponu and lazy, now FBI has given you a hint that your country is the second largest crypto destination in the world and you only saw the negative effect and nothing positive about it abi. Instead of blocking the crypto activities of both legitimate and fraudulent transaction, why not mandate all crypto currency firms and app to keep log of all transactions initiated on their platform which can only be requested for through a court order in case there's a need for it. As much as its difficult to track crypto movement and transfers, at least all these transactions happen on an app in the country. And if the company keeps logs of transaction they can produce evidence of receipt or transfer of the currency. And also u can charge a percentage as facilitation fees to keep everything in check. And this will also bring in money to the pocket of the government

Imagine the foolishness.
America probably didnt like the outflow of wealth.

I can't blame them. They are fighting for their interests.
I would do the same in their shoes.

The problem is that the people that are supposed to fight for Nigeria's interests are fighting for america.

hustler2828:
Those of you shouting fraud fraud!!! naija dey do fraud? Those yam and beans fraud na una dey call fraud? Same west warning CBN about cryptos fraud has the highest and biggest fraudsters. Some of the biggest cryptos exchangers in the world have their base in same west. Why haven't they ban them? Go-to the deep web and see how these fraudsters are cashing out on big corporations like amazon, paypal, banks and the rest. I read a story the other day how a guy was charged for fraud. He was installing crypto mining softwares on people's devices without them knowing. That guy had a whooping $60M worth of bitcoin in his wallet. He refused to give the wallet keys to the authorities and he was sentenced to just 3 years jail term. And you say naija dey do fraud. Fraud never even start for naija in the next 5 - 10 years naija go know weytin them dey call fraud.

Na which title be this movie?I wan find the DVD buy and watch.

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

God bless you for this question.
We think we are independent country but we are not. We are still been control by the WEST... US,UK and the rest. We can't do anything without their approver.

Nigeria is the second largest bitcoin user after america.
Bigger than the EU as a whole.

Our hardworking citizens have put the country on the path to benefit from the crypto future without any iota of govt support.

What did Nigeria do?
We killed it, while americans are now investing in more bitcoins than gold.

This country is not a real place.

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.

Why has your president not been able to fight corruption in his government.#3b for the president food.This one no be fraud?I never talk about budget for computer and kitchen utensils that they make budget for in every year.The NASS padded the budget with #500b,but the president didn't say anything.Had it been saraki is the senate President Buhari for don carry gongoni and stick begin dey shout"BUDGET PADDING"upandan.

Joysticks:
Why has your president not been able to fight corruption in his government.#3b for the president food.This one no be fraud?I never talk about budget for computer and kitchen utensils that they make budget for in every year.The NASS padded the budget with #500b,but the president didn't say anything.Had it been saraki is the senate President Buhari for don carry gongoni and stick begin dey shout"BUDGET PADDING"upandan.

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. This is not about NASS and budget small boy. The topic is about CBN.

Rickylambert:
Your only hatred and problem is ur brain,fight it

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.

There were questionable transactions long before cryptocurrency, and there will still be questionable transactions if they ban it. The issue is not about fraud or questionable transactions, it's about the fear that fiat currency with zero intrinsic value (like the US dollar) will lose its market value as well and bring the global economy crashing down like the baseless pack of cards that it is. The only thing keeping those fiat currencies propped up, is the demand that people have for them; now that even businesses are going crypto, alarm bells are ringing in the minds of Central Banks everywhere. What will the World Bank and IMF do when the dollar denominated debts that countries owe them become completely valueless?

Meanwhile, I think it's high time that the Nigerian youth who are tech savvy consider setting up one or more organisations like Anonymous to fight cyber fraud and other forms of cybercrime emanating from Nigeria. It is causing a lot of damage to our collective reputation, foreign opportunities and now, E-Trade.