adonainana:
The summary of what was written here is :-

1) you can open an e wallet either with NIN or your existing bvn linked account
2) you can send e naira from one wallet to another FREE of charge

Emphasis on the second point which is you can send naira from one account to another.

In other words imagine doing bank transfer with no charges, no atm fees, no pos fees nothing like how most countries operate.

This is the summary of what the e naira offers you

This ain’t cryptocurrency neither is it a new currency or a currency backed by naira.

It’s just the CBN telling you from the 1st of Oct 2021 you can now send naira electocnically free or charge

Lori Iro!!
I'm not sure you're a tech person because if you were you'll know that this business model is unsustainable in the long run. The CBN is being deceitful by calling this service free when in actual fact, they're only trying to draw Nigerians in before imposing heavy charges on transactions.

It is true it is not cryptocurrency, it is only a ledger but ledgers still need to be hosted and maintained by competent engineers through very complex algorithms. Hosting a service of this magnitude on AWS will cost a lot of $$$$. Salaries for backend developers don't come cheap, we're talking about over $50,000 per engineer and that's pretty cheap. Where's this money going to come from? What's CBN's revenue model?

Dead on Arrival,,They should teach COWS how to use it,Since they Value Cows more.

Wallet that idiot stanbic did that I can't withdraw my money from it till today.

CBN is sha looking for all means to cripple Nigerians.

CBN should state on its term and condition that it will never impose any charge till forever...
See as them paint am so good.
Trust CBN at your own peril.

Lexusgs430:


I only have 1000.... Abẹg, only comot 500.........

lol. up and coming. I see you.

It appears that this e-naira digital currency plan is not about improving the economy, but about the federal government having total control of everybody's finances.

If cash in Naira is phased out, then the federal government, through the CBN, can decide to block any person's digital account for any reason or even for no reason. The victim would not be able to back up his finances with cash. This is a very dangerous situation.

Lexusgs430:


I only have 1000.... Abẹg, only comot 500.........

Thank you sir. Lol.
On a serious note sir, pls what criteria do you use to buy coins for long term HODL apart from Max supply and use case?

Esseite:
There would be massive rush on this from POS operators because of zero charges..

Please how do one register... am honestly tired of the:

- Debit turnover charges from Access bank
- Maintenance charge from various banks
- N10, 20, 50, 100 charges on every transfer transaction from banks..

Thank you CBN..

The CBN should enable international transfers since the NIN and BVN would be employed as a verifiable tool for fraudulent operations. Thereby having a firm control on FX exchange rate.

Are you tired of above charges ?
Then be on Standard Chartered bank/Carbon/Kuda(I learnt they offer same service)

ProJectAnatot:

Thank you sir. Lol.
On a serious note sir, pls what criteria do you use to buy coins for long term HODL apart from Max supply and use case?

I have loads of apps, I read from and get signals .....

Apps like the premium version of insider, the crypto app, crypto signals etc etc.......

I no get juju or red pot, under my pillow.........

Okuda:


lol. up and coming. I see you.

The young shall grow........

NotBeenPaid:

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What are the trading pairs? Abi na cow them pair am with? All I can see here is just another means of revenue generation via VAT and nothing more.

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If u are in that kind situation as shown in d picture, just wear any slippers and move, no stress. Na u wey come out no see anything put for leg go dey worry

Lexusgs430:


I have loads of apps, I read from and get signals .....

Apps like the premium version of insider, the crypto app, crypto signals etc etc.......

I no get juju or red pot, under my pillow.........

Juju or red pot for crypto kwa . Anyways thanks

Freethinker87:


Lori Iro!!
I'm not sure you're a tech person cos if you are you'll see that this business model is unsustainable in the long run. The CBN is being deceitful by calling this service free when in actual fact, they're only trying to draw Nigerians in before imposing heavy charges on transactions.

It is true it is not cryptocurrency, it is only a ledger but ledgers still need to be hosted and maintained by competent engineers through very complex algorithms. Hosting a service of this magnitude on AWS will cost a lot of $$$$. Salaries for backend developers don't come cheap, we're talking about over $50,000 per engineer and that's pretty cheap. Where's this money going to come from? What's CBN's revenue model?

you are smart

thebosstrevor1:


No sir, the banks control crypto.

It seems you don't know that the bulk of institutional investors in crypto are banks

I know they hold bulk volume of crypto like they control forex market.
Do not forget that those running these financial institutions are capitalist. Once crypto gains ground, the need for more labour force will reduce drastically. As capitalist, even when they make huge profit they still retrench once they sight much labour force isn't required for a task. They are always thinking of maximizing profit

panpan:
It appears that this e-naira digital currency plan is not about improving the economy, but about the federal government having total control of everybody's finances.

If cash in Naira is phased out, then the federal government, through the CBN, can decide to block any person's digital account for any reason or even for no reason. The victim would not be able to back up his finances with cash. This is a very dangerous situation.

Another angle

phr33man:


I know they hold bulk volume of crypto like they control forex market.
Do not forget that those running these financial institutions are capitalist. Once crypto gains ground, the need for more labour force will reduce drastically. As capitalist, even when they make huge profit they still retrench once they sight much labour force isn't required for a task. They are always thinking of maximizing profit

labour force won't be reduced because of crypto. It has infact created lot of new jobs and wealth for people. Crypto is wealth creation for everyone.

Also crypto is classified as an "asset" all over the world, so it just like trading in stocks.

Lexusgs430:



Anything this government (past,present & future) does .... Are all doomed..........

If you have the means, hedge 85% of your liquid assets, against the $.....

Not the dead naira........ I remember my 1st flight to the UK, was N9780.35 (nine thousand seven hundred and eigthy naira and 35 kobo only).........

Hedging your liquid asset against the dollar is a very b bad idea.

As a rule You don't edge your liquid asset against the dollar but against high return assets like real estate, bond, stocks, arts, expensive drinks, very expensive wristwatches, golds and other assets that brings returns in the long run

byteem:


We are not using . The target of this is the youth and we the youth are not using.. sell it to politicians and your lots .. we are not interested.. rubbish.. after banning crypto.. this is a failed idea at digital currency.. when I heard CBN was floating its own digital currency I thought they would develop their own national coin on blockchain like Ghana Tanzania and other countries.. this is just replication of a mobile money wallet system.. .. CBN has downgraded to mobile money levels.. crap..read my lips we are not interested..Ur remittance policy killed employment for youth same did your crypto policies .. several accounts are blocked till date with funds .. just cos they trade crypto.. this is a desperate move .. we are not interested..let Ur political class use it

I am telling you. People have even had their BVN blacklisted and they can’t operate a Nigerian account because of the ban on crypto. How do you suggest one go about a watchlisted BvN Pls

ITS ACTUALLY A GOOD DEVELOPEMENT AND INITIATIVES IF WELL ORGANIZED AND MAINTAINED



CHECK MY SIGNATURE IF YOU ARE APPLYING TO STUDY ABROAD/STUDENT VISA/

The fear of blockchain is the begining of wisdom . It is either you join the bandwagon or you are left behind.
If the system will eliminates the hidden and unessary charges by banks

Lexusgs430:
This must be fake news...........

From a government that bans cryptocurrency transactions........


I would rather buy more ADA........

Ada is a semi stable coin

Buy fantom

Cd

ojonugba2014:


Ada is a semi stable coin

Buy fantom

Would read up on it........ And watch trends....... Then decide....

Lexusgs430:



The young shall grow........

ekene dili chukwu

thebosstrevor1:


Hedging your liquid asset against the dollar is a very b bad idea.

As a rule You don't edge your liquid asset against the dollar but against high return assets like real estate, bond, stocks, arts, expensive drinks, very expensive wristwatches, golds and other assets that brings returns in the long run

Which currency would I use to buy stocks, properties, bonds, funds and commodities.........

Lexusgs430:



Which currency would I use to buy stocks, properties, bonds, funds and commodities.........

You can buy in naira, it is not neccesary that you must use the dollar.

Even if you are using the dollar, you are buying assets and not dollar to edge against inflation.

I believe, this is just like other wallets i.e Opay, Fets, Palmpay etc. It's not in any way related to cryptocurrency. A normal cryptocurrency should be on block chain technology.

thebosstrevor1:


You can buy in naira, it is not neccesary that you must use the dollar.

Even if you are using the dollar, you are buying assets and not dollar to edge against inflation.

But all I have is £, $ & €...........

Lexusgs430:



But all I have is £, $ & €...........

Then use it to buy your asset in naira or what ever currency you have.

People are also making a killing through the Nigeria stock exchange, real estate and bonds

thebosstrevor1:


Then use it to buy your asset in naira or what ever currency you have.

People are also making a killing through in the Nigeria stock exchange, real estate and bonds

Rather than invest in real estate in Nigeria, I would use my money carry olosho's............

Lexusgs430:



Rather than invest in real estate in Nigeria, I would use my money carry olosho's............

It is your money, your choice

thebosstrevor1:


It is your money, your choice

Thank you, Boss Trevor ......