Govt wan money fast

Nigeria is becoming a joke... Was it binance that floated Naira? Same thing Buhari did to Aboki fx... It makes no sense at all.
Naira has the possibility of falling to #2500 if the interest rate hike by CBN fails that's how bloody it can get and I wonder who they'll blame... Keep ur money in USD or USDT.

IbeOkehie:
Look, seriously. One of the best moves Nigeria can make now is to adopt Bitcoin as the national currency.

If anyone in Nigerian Government is reading this, take the idea and run with it.

As I've said before, the problems of Nigeria have very simple solutions. The real issue is the INTENTIONS of our elites and those in government. Do they want DEVELOPMENT or are they in it for themselves alone?

There's some simple policies that can make Nigeria richer than South Africa and Poland within one generation. It's about FREEDOM, freedom, freedom, let people pursue their needs with minimal government involvement. People KNOW what they need. A sound, valuable currency is one of them and bitcoin is a good fit...definitely better than dollars and naira. Anyway, let me go see how many dead bodies I can was today to earn some dollars

Good Luck to Nigeria.

Bitcoin is too volatile. The young 42-year-old dude (of Palestinian immigrant descent) who is the newly reelected President of El Salvador invested about $175 million of his adopted country's funds in BTC so far since 2021. He got reelected though because of his massive crackdown on the criminal drug gangs and dealers who caused major spikes in the homicide rate in El Salvador.

Because of the wild volatility of BTC, I wouldn't advice that countries adopt it... Only companies or individuals should do so as a form of diversified investment, and it must be funds they can afford to lose IMHO.

EXLOVER:
This government is mad, their just trying to rope Binance for their incompetency’s. I believe Binance has helped many youths including me in Nigeria more than the bad government.

Binance will create country for u and ur fellow miner to live and trade ur coin not Nigeria

RepoMan007:
Kidnapped their representatives and slammed a technical ransom of $10Bn on their assés.
This is Intl corporate banditry, though it favours me. At least he won't tax the he'll out of me.

Your ignorance is pervasive.

IbeOkehie:
The market is what it is. Nobody can force a price on anything indefinitely.

Nigeria has just sent a message to the world that our government is arbitrary, wicked, untrustworthy and abusive.

Investors big and small have been avoiding Nigeria for a while now. I've personally realized a long time ago that nothing owned in Nigeria is safe from government and this is further proof. Who exactly will risk importing major capital into Nigeria now?

The naira is losing value because the government of Nigeria has increased money supply by massive amounts since 2015. The recent CBN audit has proved it, various government officials have admitted it. Binance or Abokifx have nothing to do with it, they report and facilitate currency trades.




Two Binance officers are under arrest in Nigeria. I guess they're the surety for the fine. This is kidnapping for ransom as a national business.

This whole thing is disgusting 🫣

Good Luck to Nigeria.

Banning Binance is one thing, the absurd reasons I just read up there is another thing entirely. This country is hopeless.

How can a representative of govt state on quote that it's the responsibility of the CBN to fix Naira rates compared to other currencies traded in a free market. The ineptitude and incompetence this statement exposes is baffling. I mean if that were true why doesn't the CBN just 'fix' the Naira at 1NGN to 1USD.


Even more baffling is the legion of illiterate, poverty stricken, cursed-to-grovel-at-the-feet-of-politicians Nigerians currently praising these daft statements and their attendant policies.

Most first world countries with liens on the activities of Binance limit it to the securities and futures traded on the platform. Nothing to do with buying cryptocurrencies at whatever rates.
Most of those limitations are pending full registration and disclosure by Binance. If Binance decides to (unlikely they would) engage full financial and anti money laundering compliance said limitations will be defacto dissolved.

These fools who've been grounded by hate, abject poverty, and frankly an innate thirst for suffering continue grasping straws with innane rhetorics like Binance is banned in other countries.
Brainwashed by the sermons of crass politicians who ride bulletproof lexuses bought with money meant for their children's education they've become classic cases of stockholms syndrome.

Destitute men, failures. Even if they manage to live off bread crumbs from their slave owners, it's just a matter of time before the hen comes to roost.
Your children will be fvcked and abused by these men and their sons.
Your generation will forever continue to thirst for luxuries they can only admire from a distance.
You will be forever remembered as that political arslicker

Lotta suffering to go around. Many Nigerians will die pitiable deaths - hopefully most of them are these brainless mofos.

Was happy this ban was implemented. Once the palliative effect it had on Naira rates wears off interested in seeing where next the goal post will be moved to.

First Binance is duly registered with the SEC so I believe Onanuga's claim is baseless

lexy2014:


what exactly is the crime of Binance?

some people sell naira. have been slammed with $10b fine?

there crimes are mnay, they are operating a business in Nigeria without license

Ola9ja23:

Enemy of progress

God shall put all of you in permanent shame

No rest of mind for enemies of Nigeria

U see una life? When the old nigga was campaigning against Jonathan u guys didn't remember God.
Now it is his turn to take the bullet u are causing somebody.

Make una fear God ooooo

fuckJones:
there crimes are mnay, they are operating a business in Nigeria without license

1. pls list the many crimes

2. some people sell naira. have been slammed with $10b fine?

Ibrahimcoomasie:

1. Yes they would be allowed after stringent policies are put in place by the binance.

2. No. The financial regulatory organization of your country does not need a court ruling to slam fines on financial institutions. Fines are regularly slammed on Nigerian banks.

3. CBN, SEC, or Financial Reporting Council of Nigeria

Displaying ignorance with so much arrogance won't make u sound smart. If things is done like that then the US wouldn't bother gathering evidence against binance for 7 years. Nigeria has no case against binance and binance isn't registered in Nigeria. I don't understand how u comparing banks in Nigeria to binance that has no business with Nigeria. The worst Nigeria can do is to ask them to remove the Naira from their platform which they've done.

MrProlific95:
Good Ridance, Kucoin soon to follow

Kucoin no send your papa! Those ones no go even answer you, them no get office here, them no get any rep here. because binance played by the book. Kucoin no send you

marlow1962:

Bianance doesn't give a fucck about Nigeria, they already have lawsuits going on, a shit hole country slamming them with fine won't do shit.

But it cared enough to send its representatives to Nigeria. Dey there dey whine.

Binance knows what it stands to lose if it loses Africa's biggest market. If Binance is banned in Nigeria, many other African countries will follow suit in a matter of months.

FYI, Nigeria will work. And anyone who isn't happy about it won't witness it

LordIsaac:
Obidients will not be happy with this news o

You are one those bandits onanuga is referring to

Internet bandits

Internet wildebeest

Binanace will go to court, you cannot arbitrarily place a fine on a company which is even not registered in your country......the current situation mhen, we go learn. Sebi they want a liberalized currency 💲💵💲

Clowns, Shishi Una no go see. Highest people go use vpn

youngrichnigga:
Binanace will go to court, you cannot arbitrarily place a fine on a company which is even not registered in your country......the current situation when, we go learn. Sebi they want a liberalized currency 💲💵💲

Them hear say Us fine Binance $4.3billion, then dae try their luck lol.

The Nigeria Government can be very funny, do they even know what brought about the invention of the cryptocurrency, i just dey laugh and i will keep on laughing, Crypto is bigger than Binance, P2P is bigger than Binance. If they like they should keep fining and banning crypto exchanges, i go soon buy more USD and buy more luxuries, No job for the youth, due to complacency, small openings which some people get they will block it. Can they win the case, or they think Binance will just cough $10 billion. Yeye people. The litigation will be lengthy. They did gragra more than this with Twitter, where did it end ? They kidnapped Binance officials now demanding ransom , yeye government. Some dont even know the meaning of P2P. If African countries block Binance and crypto, they are doing a lot of disservice to their people, because they have the highest inflation rate in the world, all countries of the global north that are denying Binance access have better living conditions for their citizens and their inflation rates are low. Crypto is just one of the ways of hedging inflation. Nigerian Govt go really tire o. If i even prayer for this government, everything go crumble before your eyes. But for now, i still dey laugh. Confused people.

Nigeriakan:


But it cared enough to send its representatives to Nigeria. Dey there dey whine.

Binance knows what it stands to lose if it loses Africa's biggest market. If Binance is banned in Nigeria, many other African countries will follow suit in a matter of months.

FYI, Nigeria will work. And anyone who isn't happy about it won't witness it

They know what they stand to lose cause there is massive adoption of crypto in Nigeria but saying other African countries will follow suit in banning binance is ridiculous. Why would anyone want to follow a failed country.

MrProlific95:
Good Ridance, Kucoin soon to follow

thy are millions of it you don't know.....lol

Mrzed:
https://www.google.com/amp/s/nairametrics.com/2024/03/01/forex-crisis-fg-slams-10-billion-fine-on-binance/%3famp=1

This is fake news
Mynd44

Nigeriakan:


But it cared enough to send its representatives to Nigeria. Dey there dey whine.

Binance knows what it stands to lose if it loses Africa's biggest market. If Binance is banned in Nigeria, many other African countries will follow suit in a matter of months.

FYI, Nigeria will work. And anyone who isn't happy about it won't witness it

That is a big lie, my friend. Other African countries dont follow Nigeria on issues of their economies, this country is a shithole. Other countries you are talking about have more strictly regulated forex markets, not a country where everything goes. These countries have high financial inclusion rates than Nigeria. A country that cannot successfully implement a cashless policy will now dictate the tune for other African countries. Very funny.

No where did this happen
Stop spreading lies

ElasmoBranchii:


They know what they stand to lose cause there is massive adoption of crypto in Nigeria but saying other African countries will follow suit in banning binance is ridiculous. Why would anyone want to follow a failed country.

You just stay back and watch. Is it not US's footstep that Nigeria just followed by suing Binance? Other African countries who see Binance as a threat to their economies may follow suit. It's not even rocket science.

I like this. At the end of the day, they would negotiate. The fine will be reduced and some wallet holders information maybe released to government as form of settlement out of the case with FG

youngrichnigga:
Binanace will go to court, you cannot arbitrarily place a fine on a company which is even not registered in your country......the current situation when, we go learn. Sebi they want a liberalized currency 💲💵💲

They did not. It is a lie
We need to cultivate the habit of reading reports critically and tracing for sources of any claim.

Who placed a fine?
When ? Where? how?

grandstar:


Nobody sabotaged the economy except the CBN governor who printed lots of new money and operated a loose monetary policy in the face of h8gh inflation.

Bad workman blames his tools, but in this case, others.

has Tinubu not been printing his?
He also admonished Buhari to print so what's the point trying to blame someone who followed what he advised unbeknownst to him?

twosquare:
Binance will close down operations and not give access to Nigerians.

That's the worst they can do, and believe it, binance not gonna pay that fine cos they know nigerians can still access their exchange through VPN.

Ola9ja23:


Double face

The platform enable saboteurs to cause havoc on our economy

Dollar has gone back to appreciating again. As at the time of typing this, it's now 1550 naira. Is it still Binance that is causing this current rise?

Binance is not the cause of the dilapidated attitude of the naira. FG knows what to do but they won't do it, rather they will be fighting innocent people.

Why won't the naira depreciates when their is high inflation rate? Bolders are closed. Import duties on food commodities is high and the government expect naira to appreciate isn't it?

To me, the government is the problem of the doom of Nigeria. Banning Binance won't solve anything, trust me.

Good one. I support this.

emkz:
If you do not support the FG's efforts to regulate the financial space, you are an enemy of Nigeria. If you feign ignorance of how the binance platform is used to manipulate the country's exchange rate because it favours you, you are a wicked person.

If you defend binance, you don't love Nigeria. Gather your things and go to a lawless country.

Do you even understand that USDT is not Dollar and Binance doesn't sell Dollar.

Nigeriakan:


You just stay back and watch. Is it not US's footstep that Nigeria just followed by suing Binance? Other African countries who see Binance as a threat to their economies may follow suit. It's not even rocket science.

You never see where person copy person for exam still come fail am.
No be to copy, did you copy well. Go and find out the steps US used before they fined them.

If binance should pay them it will just be from the bottom of their heart cause Naija no get anything to hold them na why they go arrest their executives.

Binance subsidiary, Binance US has assets in the US