Crypto Exchanges Delisting Of Naira From Platforms

Following the directives of the Office of the National Security Adviser and the Securities and Exchange Commission (SEC) that the naira be delisted from Peer-to-Peer Trading platforms, the Exchanges have begun implementing the same.

Checks indicate that the naira has been removed as a fiat currency option for transactions on KuCoinplatform and the Exchange has already begun the necessary adjustments to its technology to accommodate the delisting of the Naira as soon as practicable.

Removal of the naira from the platforms limits the ability to manipulate the exchange rates against the Nigerian currency. This is expected to further strengthen the value of the naira.

The NSA issued directives that naira be deleted from the crypto platforms as one of the strategies to strengthen the local currency.

Relatedly, the SEC had, during a meeting with the Blockchain Industry Coordinating Committee of Nigeria(BICCoN), the umbrella body of all major blockchain and cryptocurrency associations in Nigeria, disclosed the commission’s plans to delist the Naira from P2P (peer-to-peer) crypto currency trading space in order to avoid the level of manipulation that is currently happening on the platform.

Acting director-general of SEC, Dr. Emomotimi Agama, while reacting to the delisting by KuCoin, expressed delight that the crypto exchanges are heeding to the directives of the ONSA and the SEC, describing it as a welcome development.

He said, “we are happy that they have started complying with the directives by the NSA. We ask that those involved in sharp practices that undermine national interest should cease and desist. It is in our interest as a people to protect what belongs to us. Anyone that disobeys directives should be ready to face the full weight of the law.”

Agama stated that, as the apex regulator of the capital market, the SEC is cooperating with the Office of the National Security Adviser, the Economic and Financial Crimes Commission and other relevant agencies to achieve the national objective of making sure that illegality is not allowed to thrive.

https://leadership.ng/crypto-exchanges-delisting-of-naira-from-platforms/

Na wah oo

A mad republic

Ebimpawa oooo

Lmao.

Even Wicked Abacha wasn't this clueless 😂😂.

She Cargo Shattered Accountant indeed

Naira may hit 2500naira/dollar by next week
No production, no exportation
How do u want to strenghten your currency when all u do is borrow without significant exportation?

The truth is we have a long way to go and I'm not seeing any light at the end of the tunnel.

Except we have strong institutions that can combat corruption without any interference from politician we will keep moving one step forward several steps backward.

Make I go trade the last one

This government should know that this is just a mere distraction

Best of wish

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Do you want to get any document with no hazzle?

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Crypto is good, but the GBAJUE'S are using it to dwindle the naira...

The real change is Dawn on us... We warned ya all

tinupoo is a disaster

these people are mad. how person with normal brain go dey try to fight air or catch air?

How would this help nitori olohun

Nawa o

We will still survive.

Yemi Cardoso isn't bold enough to call out the real problem and challenge it. He just enjoys playing to the gallery to prove he's competent and justify his bogus pay packages.

U want to stop crimes with crypto and you are delisting naira from exchanges

Ok ooh

Too many options.

Lol,we have been hearing this,from binance, everyday delist delist

Naira still dey 1500

Una go tire

Let's see if this magic will make the naira go back to less than 1k to a dollar. These our leaders are just catching straws instead of working on the fundamentals of our weak naira. We are not producing anything and you expect the naira to do abracadabra. Smh.

T

Tinubu has finished this country.

Good development if it works, but the problem is that the unpatriotic nigerians benefitting from crypto manipulation will moved again to create another way. They never love or care about nigeria currency but Thier own personal gains is more important.

ATEAMS:
Nigeria is so complicated

Wallahi!

They are accusing crypto for the worsening currency. That is not a solution.

Tinubu is trying to push us out of using exchanges that the price there can be somehow regulated.

If we move to Telegram and WhatsApp, its any price we call that we would trade it.

Maybe Tinubu will have to ban Telegram and WhatsApp.

Yesterday, NOT coin just distributed millions to Nigerians for mining. These companies are trying to give us financial freedom but our government is fighting it tooth and nail.

Nigerians have earned through crypto than through what Nigerian government/companies have ever paid.

Naira will still depreciate without massive production.

Clown. Do they think it’s easy delisting P2P? These guys have gone far. They have the phone number of their fellow traders. Even without crypto website they trade bitcoin offline. Like the children of this politicians, why won’t they educate their father about the recent technology? You can never tamed anyone in this modern age. VPN and other tools are available for bypass. If the whole crypto company delist Naira, Chinese traders will still be trading with them. You don’t wonder why Chinese buy USA iTunes card and pay in Naira? Make una Dey play