₦airaland Forum

It's a macroeconomic policy failure of the FG.

The states have little fault on this.
A FG that closes borders, restricts crypto, prevents free market economy will not get investment.

It's not rocket science.

Just like osinbajo said, let us close shop.

Thus is a coder's dream.

Writing in seven programming languages on different screens.

tnerro1:
Sorry Aboki woman, am not from the east. Hope you know it’s your turn to service your terrorist husband today?

They also think igbos are their most bitter enemies in the south.

When you think it deeply, Igbos are probably their closest friends.

I have seen some Igbos defend northerners and buhari so bitterly than I have seen anywhere else in the South.

There is no bigger pro-northern politician in the whole of Southern NIgeria than Umahi and okorocha.

And they are both Igbos.

I used to think lack of education is the problem of the North, but I have changed my opinion.

It is a problem, but it is not the root cause.
It is much deeper than that.

Go to Twitter and see the opinions of well educated northerners and you will realise there is no difference between them and their almajiis.

You will see a northerner with PhD in economics telling you that cows should not be ranched and cryptocurrency is for criminals.

I remember that picture of almajiris eating rice poured on a well tarred road.

That is the story of the north.

Nigeria transacts more bitcoins than the whole of the EU.

If bitcoins appreciates as it is predicted and becomes an established currency, it means a lot of Nigerians will have lots of it.

It would be like having millions of dollars in many Nigerian accounts.


It would make Nigerians very prosperous and eliminate poverty significantly more than any poverty alleviation scheme.

Any body that talks about "closing shop to prevent rats" as a campaign policy is our worst enemy in 2023.

Campaigns should be on the economy.

Buhari is building rails.
Very Good

But there is no proper economic policy to make those infrastructure contribute maximally to the economy.

That is why Nigeria is experiencing sharp decline in investment even with those infrastructure.

It's critical for Nigeria to adopt free market economy in 2023.
And we need to elect a president that can do that.

Only then will those buhari rails make sense.

Kingsley moghalu explained Nigeria under buhari perfectly yesterday on channels TV.

So much adhocism.
No deep thinking involved in policy creation, just trial and error.

And who suffers?

Ordinary Nigerians.

FDi dropped from $20b to less than $9b, with the likes of Ghana and ivory coast now attracting greater foreign investment.

It's not rocket science.

The people investing in Nigeria are very strong.
I wonder how they do it?

This is one of the worst places for investment.

That is why many Nigerians with one million or above are already investing in American stocks.

And the number is going to get higher.

Buhari supporters on propaganda overdrive against crypto.

During the time of Zik, the north cannot dare say an Igbo man can't be president.

They were the ones even begging for relevance.

He had the south behind him and nobody could mess him up.

How bad things have gotten since then.

When you hear arrogance from the north, it is because they know the South is divided.
They know they only need one.

The only Southern politician to keep the north where they belong was Azikiwe in the 60s.


And that was because he had widespread southern support.

After the coup, and Southern Nigeria became highly polarised with no overwhelming popular politician, the north took over and they have been doing it ever since.

It is crazy that southern Nigeria cannot come together and form a voting bloc.
The middle belt would join us if we did and that may finally rescue this country from mediocre leadership.

We can finally be able to push progressive policies like federalism, abolition of quota system, e.t.c

This is the fastest way to achieve regionalism or state federalism, bit it seems nobody can even see it.
It is like the South has been bewitched.

What is stopping the South from uniting?

Greed of a few men. Across the regions.

And they will keep becoming unequal partners with the North who are a collective.

chozzy:
Tinubu should defect

All his eggs are in the APC basket.

If he defects, they will fucckk him up.

Why is Rudiger still in chelsea?\
They should fire that guy abeg.

In the 2019 debate, Peter Obi was talking about don't close your shop while chasing rats, while osinbajo want you to close your shop.

That debate was a clear indicator of the buhari govt and it has played out in every way.

Even people that needed an open market system to survive, were not smart enough to vote for peter obi.

I pray he runs in 2023. Maybe as a second chance from God for Nigeria.

If una like, don't take it.

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.

The US has a lot of regulatory agencies. Much stronger than Nigeria's.

And as at today, Bitcoin has risen to number 4 in the most popular american citrizen investments.

If they didn't ban it, why should you?

You and your buhari and emefiele are not alright.

When you see the way countries like India assert their economic independence, you just have to admire it.

They don't take bull from anybody. Not from china, UK or america.

Narendra Modi is not older than buhari.
But he is infinitely more wiser.

Modi is using his dictatorial style for indian independence and progress while buhari is using his to fight his enemies.

And yet buhari supporters will tell you Nigeria is sovereign.

We are only sovereign when it comes to oppressing the citizens.

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.

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.

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.

pfadom:
When many jobless individuals now lay claim to hundreds of thousands of dollars in crypto currency.

Many jobless people also have millions in Naira.

Why have you not stopped spending Naira and dollars?

Ban Naira Na.

Bunsenbun:
Jobs that our economy was not benefiting from?
Boss I use crypto too but i knew it was only a matter of time before cbn weighed the axe down.

How can your country not benefit from jobs?

Does that makes sense?
Are the people not going to spend their Money?

The country was not getting dollars to fund politicians. That is the more accurate answer.

You country cannot Create jobs, but it is deleting jobs that people created for themselves.

Regulation, Regulation, Regulation.

That is how sensible countries deal with white collar criminals.

Ika people are smart.

I don't know where emefiele got his own idiocy from.

pfadom:
Where are Kemi Olunloyo, Pastor Godman Akinlabi and other Yeyebrities who blindly criticize the CBN's decision to regulate cryptocurrency.

The US is the largest crypto market in the world.

Go and ask them if they have blocked their own

The Indian govt wants to enhance crypto in their country going forward.

You have proven that you are not smarter than your president.

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

But it was creating jobs and facilitating easy transfer of remittances.

That is enough benefit.

michoim:
And Atiku was pleading with the FG to reverse the ban.. .this man sha

Yes, because he is smart and progressive.
Internet fraudsters use the internet.

Why have your govt not blocked the internet?

joey150:
Truth be told, cryptocurrency, with its "anonymity', have given several unscrupulous scamming elements the propensity to scam unabated and without fear.

Having an unregulated and largely anonymous global currency might sound cool, but when you think of all the harm that 10% of the world population can and will do with it, it would greatly outnumber the benefits for the other 90%.

I know yahoo boys that have made a killing through scamming people, getting the funds converted into crypto and using one of the multiple exchanges here to withdraw their funds. A regular banking system would leave a paper trail that's easy to follow. Blockchain can be traced, but it's a very complex process that can be made even harder for those that can get around it.

We know some people are genuine crypto traders and have positive use for crypto. But the fear is, in a country like Nigeria, scammers will do the worst with it.

The government should rightfully be worried that millions of dollars that they cannot regulate, trace or control, is being syphoned in and out of this country via cryptocurrency.


Point of correction, cryptocurrency wasn't banned. The government cannot ban cryptocurrency because it's a digital currency. The government has only told exchanges that we cannot continue to allow you to exchange and covert naira to a digital coin that we have no direct control over.

It's a controversial decision, but given that politicians can launder money with it in seconds, yahoo boys can dupe with it in minutes and kidnappers can demand untraceable ransoms, you'll see why this extreme step may have been taken.

If your first response to this is afterall the politicians are already stealing, then you should seriously question your education. If one man gets away with murder, must we then use the excuse to pardon all murderers?

Regulate it, don't block it.
That is foolish.

The US is still the largest bitcoin market in the world.

kingsavage:
What I don't understand is why north love one nigeria and still won't allow those with brains to lead it....

Question number one.

You say You like NIgeria, but you would rather vote for ganduje than a Peter Obi.

Is that not madness?

Everyday, these under developed Mallams keep proving the wisdom of separate countries.

No matter how patriotic to Nigeria you are, if you are rational enough, surely you can see the wisdom of separation.

There is a wisdom in one Nigeria, and there is a wisdom in separation.

But everyday, the scales tip to the latter.

Abokiii na abokii.

This is coming from a guy that held a meeting with terrorist bandits.

I no blame you.
If we had a patriotic air force, they should have carried out an airstrike on you and your bandits.

I don't even know why we rate these people.

It is obvious they are not mentally developed enough to build any kind of modern civilisation.