oliverwrites:
How come other countries are complaining of the same thing? Tinubu is useless but call a spade a spade when you see it. Binance is contributing to the issue on ground the same way they were doing in France, Malaysia and other countries where they have been banned.

how is Binance contributing to the issue on ground?

how did the issue on ground become an issue on ground in the first place?

YourKarma:


Of course you'll be in support, you're a poor man nau, anything that'll negatively affect others is what you'll want.
Buhari banned binance last time, banned abokifx but what did it solve?
Absolutely nothing.

This government has shown they're clueless and just doing trial and error

Yes...you can keep crying. If you have head, you should have asked me why?

Animal...who thinks everyone online who doesn't support their view is poor, stupid and daft as their parents.

Geovanni412:


You mind them

They forget that they banned crypto for months under Buhari

And nothing changed

How do they intend to block binance when it has no office address?

The best they can do is to tell Binance to discontinue business with Nigerians and even at that, we go still find way run am via back door.

once binance removes the NGN sign on its platform, it is over.

It's really sad, up till now I can't get money from someone in Philippines

Ogiame:
Una sure say Tinubu well so?

He is fucking old both mentally n otherwise!! I only blame the idiots that voted him.

EdiskyHarry:
It's really sad, up till now I can't get money from someone in Philippines

Why?

criuze:
No one will believe that Mr tinubu can be so retarded in leadership even coming as a former Lagos state



I won't be so surprised because I've seen beautiful younglings in Lagos that couldn't reply greetings in commonest English language

Tinubu is of that type, a complete Zombie president,

Was once threatening Niger republic with millitary

Honestly speaking tinubu is an old man who is out of touch with reality, i can only blame his supporters.

oliverwrites:
So speculators can't buy USDT with USD and hoard it? Some of you will go about abusing the government but are not that intelligent just all talks.

Funny how the most obtuse simpletons go about questioning the intelligence of others.

How does this rubbish you wrote make any sense to you in the context of the discussion?

You said you went to a BDC to buy USD Fiat, and was quoted a certain exchange rate, and then you went to Binance to buy USDT token, and saw a difference of about N100. I asked you what is the correlation? Is USD the same as usdt? If you don't understand the import of this question, then you shouldn't be here discussing what you know nothing about.

People are either receiving payments via USDT and converting to Naira to fund their expenses, or buying USDT token with NAIRA to cushion against the decreasing value of the Naira. Yet you're here ranting nonsense about speculators. If you don't know where the problem lies then I can see how "intelligent" you are.

Really

Nbote:
At this point, it is very very very very clear that these people are very very very very clueless. This is what you get when you bring in relics as leaders. Is Nigeria the only country using Binance? How can anyone who isn't a slowpoke claim Binance is a sophisticated heist against the economy? Your borrowings, your cost of governance, your unapologetic pilfering of public funds aren't all against the economy but na Binance that's has no physical office in the country, used by hundreds of millions worldwide in hundreds of countries that is a heist against the economy?? How is this any different from what Buharia did by banning crypto??


I didn't campaign for the job, I am not being paid for the job neither am I qualified for the job but arleast the little knowledge I have is enough to know that this is foolishness. I don't expect an imbe.cile to know that




Banks are used for money laundering. BDCs are used for money laundering. Gold traders and miners are used for money laundering. They've Even being using petrol stations and real estate to launder money and these days they use FCCMG businesses to launder money. Do almost all politicians and public office holders not have dollar accounts in tens and hundreds of millions? The likes of BLord, Hushpuppi have always been fraudsters but didn't need Binance to be fraudsters



Only imbe.ciles are those with mucus in their brains will reason like you. South Africa's economy is suffering a heist, Australia, Japan, Switzerland, Taiwan who are all miles ahead aren't suffering economic heist. But it is Nigeria who's politicians practically carry Ghana must go bags of cash around, stash it in their houses that is suffering from economic heist? Fraudsters have been using banks to launder money and receive dollars payment time and time again but suddenly Binance is the problem?

Our ways is different... I use binance too... Make government drag them there ...

Elliotwaveforec:

Why?

He can't send it, if you can help me I'll appreciate

Kennyswag:
once binance removes the NGN sign on its platform, it is over.

p2p agents all over will not disappear

You cannot stop crypto

What will simply happen is people will join telegram groups and continue with trusted agents

Britishpea:


It’s obvious you don’t know Nigerians. You don’t know what sabotages do in Nigeria. You must think Government hate the citizens at all times to not allow their own policies to work. No one sets out to fail some people frustrate them.

There are so many criminals in Nigeria hiding under some canopies. Govt can’t succeed if they don’t have the support of the citizens. People criticize them over everything without lauding any of their policies. The critics mostly are sponsored by the ones eating from the rots. And influencers have their ways of piercing through the minds of the weaklings.

Binance is used for money laundering fyi. Crypto firms mostly make their money from it. So BLord made so much money by selling and buying bitcoins ? Dey play!

Why did USA ban liberty reserve and e-gold back then?

You all be shifting blames to innocent citizens. Governance starts n ends with elected officials whose duties is to make functional policies n enforce it and remember during apc n pdp primaries, these guys shared millions of dollars amongst themselves and where did they get that huge amount of money.

What was the FG thinking before they decide to float the naira. You float a currency that is weak and unstable without a plan in sight - what were they thinking.

Now they are chasing shadows

Geovanni412:


p2p agents all over will not disappear

You cannot stop crypto

What will simply happen is people will join telegram groups and continue with trusted agents

lol. When dey remove it, then we will see

emperor4love:
how can u ban binance wen u.s no fit,the one dem ban boys use vpn the tear am de go

u know how many countries that have ban them?

Nbote:
At this point, it is very very very very clear that these people are very very very very clueless. This is what you get when you bring in relics as leaders. Is Nigeria the only country using Binance? How can anyone who isn't a slowpoke claim Binance is a sophisticated heist against the economy? Your borrowings, your cost of governance, your unapologetic pilfering of public funds aren't all against the economy but na Binance that's has no physical office in the country, used by hundreds of millions worldwide in hundreds of countries that is a heist against the economy?? How is this any different from what Buharia did by banning crypto??


I didn't campaign for the job, I am not being paid for the job neither am I qualified for the job but arleast the little knowledge I have is enough to know that this is foolishness. I don't expect an imbe.cile to know that




Banks are used for money laundering. BDCs are used for money laundering. Gold traders and miners are used for money laundering. They've Even being using petrol stations and real estate to launder money and these days they use FCCMG businesses to launder money. Do almost all politicians and public office holders not have dollar accounts in tens and hundreds of millions? The likes of BLord, Hushpuppi have always been fraudsters but didn't need Binance to be fraudsters



Only imbe.ciles are those with mucus in their brains will reason like you. South Africa's economy is suffering a heist, Australia, Japan, Switzerland, Taiwan who are all miles ahead aren't suffering economic heist. But it is Nigeria who's politicians practically carry Ghana must go bags of cash around, stash it in their houses that is suffering from economic heist? Fraudsters have been using banks to launder money and receive dollars payment time and time again but suddenly Binance is the problem?

You get time dey reply those werey

[quote author=oliverwrites post=128566617] Don't just type for the sake of it, analyse things properly. Only thus morning two bureau de change guys quoted me 1780 and 1790 to sell $1,000. On binance, it is currently 1890. Why the 100 naira difference?

This morning it was lower than 1780 on Binance.

At the time you checked the price on Binance, did you check with your BSC friends?

Do you think your BDC friends are changing your currency out of goodwill? That 100 is the profit they make on top.

I don't even know which it is...

Is it the fact that the citizens of Nigeria now see the illegality of BDC's as normal

Or is that they are just as clueless as the leaders themselves?

Nigeria is the only nation on planet earth with a currency black market. The word "black market" is directly associated with illegality.

Yet here you are using it as a standard of reference.

We are so lost in this country

Haaland21:
Totally in support of this.

kontinue

PDP is officially free from the blame

What should now happen to us dollars that eveu crypto firm uses as their stable source. Just get your country right and everything will align

fergie001:


SOURCE

“This therefore gives the dollar a fake value against the naira which then sets a frenzy and mislead the market. This fake price is then often quoted by BDCs who raise their prices to meet the Binance benchmark even without any corresponding demand in that segment,"
This is serious!

Lekan239:
wait o. But no different between BDC and Binance na.. . U can buy and sell dollars from BDC, you can also do the same with binance too... so you are supporting them to ban BDC but not supporting them to Ban Binance

Usdt is different from USD....
U dont buy usdt from banks or CBN unlike USD.

ClearFlair:
Still not addressing the main issues

Let's have your idea pls

Boys dey find make dollar equivalent quick quick hit 2k and these ones wan spoil work for person

make Dem leave our Binance alone o

These our current leaders are failuresThese our current leaders are failures...

After looting the country dry through Ways and Means, which has caused the devaluation of the Naira, they blame everything except the real cause of the fall of naira.

Evil manipulators.

FG is really really confused

fergie001:


SOURCE

Aside suspicions of economic sabotage, officials also speak of national security concerns as the platforms are often patronised by other criminal groups including for payment of ransom.

Law enforcement sources say the digital asset platforms are also routinely deployed for manipulation of forex values through fake deals that serve to prop up values or cause a fall.

A source at the Economic and Financial Crimes Commission (EFCC) involved in probing criminal complaint against digital asset platforms, who was however not authorised to speak to the press, described the process as a “sophisticated heist against the Nigerian economy”.


According to her, by allowing simultaneous opening of buy and sell windows for a single user, manipulators often fake interest to sell dollars which they then buy at a speculated rate to themselves through the buy window.

“This therefore gives the dollar a fake value against the naira which then sets a frenzy and mislead the market. This fake price is then often quoted by BDCs who raise their prices to meet the Binance benchmark even without any corresponding demand in that segment," she said.

A senior executive at the Central Bank of Nigeria (CBN) described as “troubling” the bearish downward trade of the naira against the dollar in the last 10 days, attributing it to artificial devaluation caused by the speculative sites.

“Through manipulative rent seeking, Binance’s global reach results in higher USD to NGN exchange rates often being used as a benchmark for currency trading, misleadingly devaluing the Naira in global markets.”

FourQu:
Eh chai I pity people from the crypto thread in the nairaland business section

They were so happy this past week about their bull/bear pip tinz, Sootey ilegend dey brag with his binance screenshots upandan now this?

Eiyaah! Tinubu is about to happen to them BIG TIME

Jeyun:
that guy na werey they won commot feeding bottle for him mouth now

I tell am sey this thing must reach everybody he sey na lie, sey everything go soon normalise

Calm down. You people are worrying way more than us. I'm currently trading as I type. Everything is fine and will always be fine.

Ignore the noise and the news. Have you ever seen a bad boy who doesn't have options or a young, big ass beautiful and smart woman who doesn't have options? Nah!

I'll quote this post some years later to remind you that the government can't do much.

Nothing will happen. If something happens, you'll realize we have something called centralised exchanges and decentralised exchanges. Learn about the two and you'll understand.

There are three things that can't be banned globally, but can only be regulated.

1. AI (example Midjourney, ChatGPT (text, video, image creation, etc.)

2. Cryptocurrency (can only be regulated, not banned. Even if you ban it, too many loopholes and options to still trade it and transact)

3. Fill in the blank

So, take a deep breath and pray for good governance because whether the country good or not, my 3-square meal is assured by God's grace.

No dey too worry for us, because God never lets his children cry, except it's tears of joy or tears that'll being more joy soon.

If you try to make us cry, He opens better options and we'll be like, "Wow! Thank God the other way we thought was the only way blocked so we could see a better way."

Don't rejoice in the midst of blessed people because of their current pains. E no dey last. They'll end up smiling few hours later.

I wish you the best in your endeavor. Have a nice day, Sir.