CBN should wake up to realities. Crypto is being adopted by Western countries we are here giving fine to banks that deal and even hide it from you. UK finance Secretary earlier this week said they are going all in, US looking for ways to advance it as Biden sign executive order saying 40M American can’t wrong. South Korea pro crypto candidate just won their presidential election the guy even campaigned with crypto adoption as one of his key objectives. The list is endless…

Microwhy:
I ordered for sneakers on Aliexpress and GTbank debit 3X, they reversed 1 and keep mute on the 2nd over-debit.
This time, I no get strength for their wahala, na so I hang their matter for God hand.

No hang anything write them mail.

2mercy:
CBN fines Access Bank N500mn, Stanbic IBTC N200 million for concealing customers’ crypto deals

The industry watchdog spotted the transactions and their details, by way of an ultramodern surveillance technology currently exclusive to it.



https://www.premiumtimesng.com/news/top-news/522176-cbn-fines-access-bank-n500mn-stanbic-ibtc-n200-million-for-concealing-customers-crypto-deals.html

This is total nonsense idea by CBN to fine banks for concealing customer crypto deals, cryptocurrency as a digital currency has come to stay CBN is too little to stop it , nations of the world even American government has accepted crypto who is Nigeria or CBN even top government officials are dealing on cryptocurrency malami the day was caught using latoken to transact crypto, let me tell them the truth banks themselves are finding it difficult to survive there is inflation in Nigeria infact the inflation rate in Nigeria is over 20% so many companies are finding it difficult doing business in Nigeria, how do you expect banks to survive running high cost of diesel on power, whether we like it or not crypto business is where money is cryptocurrency helps people escape the harsh economic inflation all over the world if you keep your money in the bank it will lose value over inflation and banks can't pay you interest self so even banks know that majority of their customers use crypto so they will support their customers the more they help their customers transact the more money the banks make it these banks refuse there are many Fintech online banking threatening conventional bank existence like kuda bank, palmpay, fairmoney, paycom , even chipper cash these online banks are threatening banks existence and you want them to leave their customers transaction because it's crypto CBN is mad

Military rule is better for Nigerians.

You see ehn, this govt is the most useless, retrogressive, Clueless, inconsiderate, poverty-distributing one, if it knows how crypto is helping to keep crime at bay, reduce unemployment and helping the economy, it'd encourage it with all its might. Just regulate it, that's what sensible govt do.

I can't wait for this govt tenure to be over

seanwilliam:
Buhari thank you very much huh. Thanks for kicking us in the asś wotowoto

If they ban crypto totally, the amount of yahooo boys wer go de ehn.. this government na mumu government.

Johnrake69:
May we never see this type of administration again. How can Emefiele and his cohorts ban an innovative industry currently worth about $2 trillion dollars in market capitalisation.

Indian, Brazil, US, Canada, Europe, South Africa, UAE, Singapore, Russia, Ukraine have all recognised the legitimacy of crypto currency and this good for nothing adminstration in a country that is home to 95M extremely poor people are here banning crypto.

Thankfully, Blockchain is here to stay. It's simply a matter of get in line or be left behind.

Don't mind the backward CBN and it's retrograde policies. They say they want to help the naira, what is happening to naira now. I don't even mind them sef. Still de do my transactions with P2P.

Thank God I use none of these bank coz they gonna be debiting their customers unnecessarily after paying this fine

Everyone must collect

Fibonacci88:
Which kind ban crypto. Crypto wey Malami dey trade. Of all the millions of p2p transactions wey men do na only few transactions Dem fit spot with d stupid software. Crypto is banned but Binance is actively advertising to us on DStv. Mumu government.

Difrent:

What a contrdictory statemet.....is enaira not run on blockchain technology?

No. It is a digital currency. It doesn't use blockchain tech.

No wonder my cousin said some of these banks have spies on binance p2p trading, so if you buy or sell from them, they lock your account, thereby trapping your money, they trapped his friend's 3m there.
This government is hellbent on making people's life more miserable but the truth is crypto has come to stay whether they like it or not and that is the future of money.

Difrent:

What a contrdictory statemet.....is enaira not run on blockchain technology?

Actually it is NOT.

wow finally seen a topic everyone is in the same term with,
but government should unban this crypto na dem dey lose oo

Oritna94:

Don't mind the backward CBN and it's retrograde policies. They say they want to help the naira, what is happening to naira now. I don't even mind them sef. Still de do my transactions with P2P.

Which bank do you use to trade in p2p? I heard Kuda microfinance bank is safer?

Hammyaladin:
If they ban crypto totally, the amount of yahooo boys wer go de ehn.. this government na mumu government.

What?

More than 75% of the folks involved in crypto currencies in this country are fraudsters/yahooboys.

Hmmmmm.

I think it was few months back and bringing it out as fresh probably it was discussed at the meeting.

That ultramodern abi sophisticated "tigbogbotigbogbo" na just pure English.

Good,. Most of these banks are criminal organizations and economic saboteurs

Nothing like any software...if you know you know.
It is just transaction dynamism and volume and age of the account holder.

I know access bank will be there ole bank

Difrent:

What a contrdictory statemet.....is enaira not run on blockchain technology?

No ,its not

NaijaCoverBlog:
Nawa o

UBA is officially Nigeria's most useless bank.

Craigslists:


No mind the hypocrites them.

Even Binance dey sponsor Lazio Football club for Italy.

While third world country and poverty capital of the world dey ban crypto

India has not banned crypto o, instead they taxed it, I think 30% on profit!
South Africa is already conducting experiment on how to use Blockchain for financial settlement

Microwhy:
I ordered for sneakers on Aliexpress and GTbank debit 3X, they reversed 1 and keep mute on the 2nd over-debit.

Reversals, sometimes, take days. Anyway, have only the amount sufficient for a transaction.

Fibonacci88:
Which kind ban crypto. Crypto wey Malami dey trade. Of all the millions of p2p transactions wey men do na only few transactions Dem fit spot with d stupid software. Crypto is banned but Binance is actively advertising to us on DStv. Mumu government.

If you look well now you go find out say na govt official do the crypto transaction sef

bblayer:
CBN should wake up to realities. Crypto is being adopted by Western countries we are here giving fine to banks that deal and even hide it from you. UK finance Secretary earlier this week said they are going all in, US looking for ways to advance it as Biden sign executive order saying 40M American can’t wrong. South Korea pro crypto candidate just won their presidential election the guy even campaigned with crypto adoption as one of his key objectives. The list is endless…

Thank you for this brilliant summation, honestly I wonder why we're so unfortunate to have such useless persons in our leadership positions, especially that Emefiele. More countries and institutions are jumping on the enormous potentials available in the Crypt.o industry, recently KPmg and PwC said they're going to be allocating resources to BTCee and ETh, these are companies the Cbn uses for routine advisory services. Must you ban what you don't understand?Take a cue from other more developed countries instituting policy framework for the industry. If the Cbn was a thinking organization, therein lies opportunities to boost revenue for the country through taxes, inclusive incentives to drive innovation and bring about needed Growth.

Do CBN knows the amount of profits banks get via crypto base transaction?this is going to affect banks survival in this Emefiele hardship-induced economy.

Plead:


What?

More than 75% of the folks involved in crypto currencies in this country are fraudsters/yahooboys.

please shut up if you don't have statistics to back up this % u came up with

Fibonacci88:
Which kind ban crypto. Crypto wey Malami dey trade. Of all the millions of p2p transactions wey men do na only few transactions Dem fit spot with d stupid software. Crypto is banned but Binance is actively advertising to us on DStv. Mumu government.

Don't mind them. They get uncomfortable when they see youths prospering. Wicked men who don't want the younger generation to prosper. That's how they banned crypto, when the VP Osinbajo intervened, they said it was the banks they banned from trading it, not individuals. How are individuals going to trade without the banks. Useless people with useless policies.

Nigerians cannot wait for May next year to throw away this government with their wicked, archaic policies. They are evil and terrible.

Oritna94:

Don't mind the backward CBN and it's retrograde policies. They say they want to help the naira, what is happening to naira now. I don't even mind them sef. Still de do my transactions with P2P.

Lol. CBN has people on P2P. That's how they spot crypto deals not one software as written in the report.

DonGenovese:

Thank you for this brilliant summation, honestly I wonder why we're so unfortunate to have such useless persons in our leadership positions, especially that Emefiele. More countries and institutions are jumping on the enormous potentials available in the Crypt.o industry, recently KPmg and PwC said they're going to be allocating resources to BTCee and ETh, these are companies the Cbn uses for routine advisory services. Must you ban what you don't understand?Take a cue from other more developed countries instituting policy framework for the industry. If the Cbn was a thinking organization, therein lies opportunities to boost revenue for the country through taxes, inclusive incentives to drive innovation and bring about needed Growth.

The old, wicked men feel threatened by the younger generation. Their sole aim for blocking crypto trade was endsars. Endsars was sponsored through proceeds of crypto and the archaic government decided to throw the baby and the bath water away. Yeye people.

The CBN claimed that cryptocurrencies are created by unregulated and unregistered companies, and hence usage in Nigeria violated existing laws since they are not legal money.

When they fine this bank now, how will they recover their money, that means things will start going wrong in bank.. like when you transfer you won't see your money... Na wa where are we going in this country called Nigeria?