To solidify the ban on Binance and other exchange, FG should list out major VPN services and submit their URLs to telecom companies in Nigeria for immediate blacklisting.

👍

There's also a case for strengthening existing laws to proscribe trading any form of crypto currency and set a minimum jail term of 10 years.

Let's see how many will take the risk.

You people are the funniest set of creatures on the face of the earth ,if you understood how the internet works, you will be greatly afraid

chnnmfl:
To solidify the ban on Binance and other exchange, FG should list out major VPN services and submit their URLs to telecom companies in Nigeria for immediate blacklisting.

Take ham easy

He has a point because the restriction can be circumvented.
Expect fake screenshot to be the tools of speculators now. How many BDC know about VPN?

Crazy how people perish more from lack of knowledge than hunger.

chnnmfl:
To solidify the ban on Binance and other exchange, FG should list out major VPN services and submit their URLs to telecom companies in Nigeria for immediate blacklisting.

what will they gain? See , any government that cannot tell you the truth can't solve any problem. Banning finance is ok. But it doesn't solve the issue.

I read elsewhere that the crypto website themselves block users account when they use a VPN.

In addition, is it really safe routing your financial stuff via a VPN site?

DeLaRue:
👍

There's also a case for strengthening existing laws to proscribe trading any form of crypto currency and set a minimum jail term of 10 years.

Let's see how many will take the risk.

IPOBidients and their Pandora Obituary are in trouble
They think Asiwaju would sit back and allow them to continue in sabotaging our economy

All th subsidy cabals are in big trouble too.

Nigeria shall be great again

Pennywise2:
what will they gain? See , any government that cannot tell you the truth can't solve any problem. Banning finance is ok. But it doesn't solve the issue.

It will go a long way

Do you know how many billions of dollars stocking in cryptocurrency

The economy saboteurs are using every possible means to bring Naira to zero

The unpatriotic elements are hellbent on destroying our country and economy bcs the lost election

If them ban it , I'll just use Tor which they can't ban

Mumu,advise fg to ban internet completely instead na

KingKO22:


IPOBidients and their Pandora Obituary are in trouble
They think Asiwaju would sit back and allow them to continue in sabotaging our economy

All th subsidy cabals are in big trouble too.

Nigeria shall be great again

All traders on binance are obidients? Chai! Akoi tinubu.

kettykin:
You people are the funniest set of creatures on the face of the earth ,if you understood how the internet works, you will be greatly afraid

care to explain

Even after blocking VPN's url what about rdp, VPS, socks5, etc? You thought the Internet was one big compound that the landlords could lock the gates and keep the keys to themselves? Stop displaying your ignorance publicly.

Sapeleboy911:
Even after blocking VPN's url what about rdp, VPS, socks5, etc? You thought the Internet was one big compound that the landlords could lock the gates and keep the keys to themselves? Stop displaying your ignorance publicly.

Banning VPN url will drastically reduce the traffic from Nigerians going to Binance p2p to carry out their daily criminality.

chnnmfl:
Banning VPN url will drastically reduce the traffic from Nigeria going to Binance p2p to carry out their daily criminality.

There are better ways of mitigating such criminality instead of banning. Using a hammer to kill a mosquito is childish and naive.

The easiest way is to do it USA style. Make it a crime punishable by paying $2billion fine for any exchange to trade in naira NGN either through P2P or otherwise. Or impose a 70% tax on every NGN withdrawal. You will sue binance international to court for non compliance with the 70% tax. Automatically, binance and other exchanges themselves will ban NGN fiat deposit and withdrawal to avoid paying $2 billion fine. The end users themselves will stop trading when they are forced by binance to pay such tax because it will make arbitration unprofitable

Time to make my own internet

Sapeleboy911:


There are better ways of mitigating such criminality instead of banning. Using a hammer to kill a mosquito is childish and naive.

Oya please explain the better ways ago, we're listening

Obierika:


Oya please explain the better ways ago, we're listening

1) Ban finance in Nigeria, that is make binnance.com inaccessible in Nigeria and let those using it know that they will be dealt with if caught. Most users will result to VPN

2) Our financial crime-fighting agencies' tech wing will register on the same Binance using a VPN. They will pretend to be buyers and sellers on the same Binance.

Since they are on Binance and buying, they will get to know the big league's buyers and sellers manipulating our currency on the platform through several trades made with them. Their banking information and other details will be known. These agencies will act as a honeycomb to our currency saboteurs.

Have you imagined selling weeds to an undercover police and not knowing he is a policeman? Several Weed vendors, fraud merchants, and child pornography creators on the dark web were caught using this method. Even though they used cryptos in receiving payments, used VPNs, and connected to RDP, all in a bid to hide their tracks. They were still caught. Most VPN services will be willing to share users' logs with our security agencies.


The questions we should be asking are:
Are these saboteurs truly behind the surprise dwindling of the naira? How do those BDC agents get access to the dollar? Are there no insiders in these same governments aiding the naira downtrend?
The worm that eats the kola nut is inside the kola nut

If there's a way to do that, let it be done immediately; no room for saboteurs to breathe.

Ruke1989:
The easiest way is to do it USA style. Make it a crime punishable by paying $2billion fine for any exchange to trade in naira NGN either through P2P or otherwise. Or impose a 70% tax on every NGN withdrawal. You will sue binance international to court for non compliance with the 70% tax. Automatically, binance and other exchanges themselves will ban NGN fiat deposit and withdrawal to avoid paying $2 billion fine. The end users themselves will stop trading when they are forced by binance to pay such tax because it will make arbitration unprofitable

Good one! FG is reading and steps would be taken to that effect.

We are winning this war against economic saboteurs!

Ruke1989:
The easiest way is to do it USA style. Make it a crime punishable by paying $2billion fine for any exchange to trade in naira NGN either through P2P or otherwise. Or impose a 70% tax on every NGN withdrawal. You will sue binance international to court for non compliance with the 70% tax. Automatically, binance and other exchanges themselves will ban NGN fiat deposit and withdrawal to avoid paying $2 billion fine. The end users themselves will stop trading when they are forced by binance to pay such tax because it will make arbitration unprofitable

Dey play. I don't know which reality you are living in.

1. Binance is not the only CEX in the world. There are hundreds!

2. Taxation can only work with KYC exchanges like Binance, Coinbase, etc.

3. Nigerian crypto community will migrate to Telegram, WhatsApp, etc. for P2P transactions in order to avoid taxes on KYC exchanges. P2P transactions don't need exchanges like Binance to operate. Binance is only serving as an escrow/moderator.

4. Even it is possible to ban all CEXs from operating in Nigeria, Nigerians will migrate to non-KYC CEXs and DEXs for their crypto trading activities.

5. You literally cannot stop crypto activity in a Country. Even a technologically advanced country like China has not succeed in stopping it.

chnnmfl:
To solidify the ban on Binance and other exchange, FG should list out major VPN services and submit their URLs to telecom companies in Nigeria for immediate blacklisting.

You are a baby when it comes to understanding how the internet, crypto and blockchain work.

BannedUser:


Dey play. I don't know which reality you are living in.

1. Binance is not the only CEX in the world. There are hundreds!

2. Taxation can only work with KYC exchanges like Binance, Coinbase, etc.

3. Nigerian crypto community will migrate to Telegram, WhatsApp, etc. for P2P transactions in order to avoid taxes on KYC exchanges.

4. Even it is possible to ban all CEXs from operating in Nigeria, Nigerians will migrate to non-KYC CEXs and DEXs for their crypto trading activities.

5. You literally cannot stop crypto activity in a Country. Even a technologically advanced country like China has not succeed in stopping it.

Exactly the Internet is bigger than x10 Nigeria. Blocking of VPN because of binnance is of no use. Honey combing saboteurs will be the best deal.

Sapeleboy911:


There are better ways of mitigating such criminality instead of banning. Using a hammer to kill a mosquito is childish and naive.

no de reply werey because e no mk money from crypto him,he is depressed nd wat dem.to strt over

BannedUser:


Dey play. I don't know which reality you are living in.

1. Binance is not the only CEX in the world. There are hundreds!

2. Taxation can only work with KYC exchanges like Binance, Coinbase, etc.

3. Nigerian crypto community will migrate to Telegram, WhatsApp, etc. for P2P transactions in order to avoid taxes on KYC exchanges. P2P transactions don't need exchanges like Binance to operate. Binance is only serving as an escrow/moderator.

4. Even it is possible to ban all CEXs from operating in Nigeria, Nigerians will migrate to non-KYC CEXs and DEXs for their crypto trading activities.

5. You literally cannot stop crypto activity in a Country. Even a technologically advanced country like China has not succeed in stopping it.

There are only a handful of exchanges and P2P escrows that accept NGN fiat deposit. Telegram escrows were here before now, trust issues won't make them stand. Besides it's easiest to ban telegram groups. Many of the decentralized exchanges especially the DeFi do not accept NGN, it's only a handful of centralized exchanges that do through their peer to peer platform. USA has closed down several exchanges from working in USA. Even binance was forced to create a separate platform for US users because of the regulations in the US which provides for taxation of crypto assets of US nationals. In US, the security and exchange commission regulates crypto exchanges and imposes fines worth billions of dollars on any erring exchange. It doesn't matter whether they have offices in USA or not. Despite relocating Binance offices in a country he thinks has crypto friendly laws, Binance CEO was recently convicted in the USA. If you target the CEOs of major international exchanges for prosecution in court for violating a Nigerian legislation, let's say 50 exchanges, they will all cut off Nigeria and disable NGN on P2P for Nigeria. Blocking IP addresses alone cannot work, that's what china is doing. USA doesn't block IP address, they simply prosecute the company's CEO and board for violating a crypto law put in place by the US govt for all businesses with a concern in the US. If you make money from US residents, your company is automatically going to pay tax whether you have offices in USA or not. By their law, you do KYC and US citizens financial activities must be reported for taxation purpose. Naturally, some exchanges shut down their operation in the US because they can't comply and can't pay fine. If you prosecute CEOs or request their extradition, they will find a way to comply with your country law. Blocking IP alone won't work

So when tinubu was sharing dollars during election he was not a saboteur. The reason we didn't see immediate ripple effect was because of emefiele tightening strategy.

Inec staffs during presidential election was paid $100 each first time in the history of Nigeria.

Who brought in those dollars?

Thank God internet is not lagos