₦airaland Forum

Hh

Ok o, Nigeria government has gotten a new distraction technique. Binance, Binance, Binance, Binance till the year will end n the citizens will be shouting cryptocurrency, Binance, crypto banned. Imagine the routine.

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

how

Hmmmmm

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

lol... how sure are u... its only NGN/USDT that was delisted not that they stop working in Nigerian

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

says who, wetin u kwn no pass u sha

Well said my boss Obinna.
But I don't think binance will release any details no matter what.

These wretched bastards in power...now they are looking for money that doesn't belong to them to tiff!!!
Thunda faya you all...useless bastards who've put Nigerians to hardships.. kept Nigerians in darkness!!!

Somebody will be home and in darkness all fukkn day!!!

Other people money and investment kee Una there,rogues.

I am in my own house and sweating, pouring water on my body every minute cos there's no power to run my fan!!!

Kai!!! Thunda please faya these witches and wizards in power

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

How

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

Its better to shut up on issues you know nothing about. Most of you APC guys are just too archaic. Damm.

vonlogon:
All this banning crypto here and there is just a scheme to perpetuate their poverty agenda, believe me this government don't want anybody getting richer, they believe it's the reason for all the Japa. The figure is getting scarier by the day.

You are right but to be honest with ourselves we know there are bad actors who feel they can inflict some damage on Naira with the hope of tarnishing the Govt, but they are traceable as long as they use CEX like Binance and the likes, just that it seems they are clueless or doesn't have the morale/integrity/courage to go after these bad actors that is causing headache for the naija cryptoverse

...after throwing her out, you still ask her to tell you the names of her admirers...isorite!

OKOATA:
Its better to shut up on issues you know nothing about. Most of you APC guys are just too archaic. Damm.

Let's try and enlighten them, Blockchain and crypto is relatively new and just gaining prominence, a lot of people still don't know what it entails.

Not even 1 dollar out of that 26billion dollar was from nigeria. Nobody in Nigeria uses USD to buy USDT.

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

Rest gone keeh 😂🤣

THEPACIFIST:
You are right but to be honest with ourselves we know there are bad actors who feel they can inflict some damage on Naira with the hope of tarnishing the Govt, but they are traceable as long as they use CEX like Binance and the likes, just that it seems they are clueless or doesn't have the morale/integrity/courage to go after these bad actors that is causing headache for the naija cryptoverse

Well said, these people come to government to take their turn at looting and when it's their turn, the previous looters who are now retired as senators, reps or godfather cannot Kai them, the the cycle is repeated, that's why their succession plan revolves around their type.

FFIA:

i hope you too are hydrating in this tinubulation

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people could curse and attack for the bad economy.
It is all showmanship.

In a few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

And if they refuse to get the economy right, the naira will keep falling and those they brainwashed will forget there was a time they blamed binance for the fall.
I do not know how some people reason, believing Binance is the problem; when the dollar-to-naira demand ratio is about 1:10 and about 30 trillion was printed from nowhere,why will the naira not fall?
In Buhari's administration, is Binance not in operation? You hurriedly announced a naira deregulation without putting the right things in place, now you're looking for a scapegoat!
This is not my wish, but if these guys don't get things right, Naira could fall even more than the pre-crypto and Binance ban!!

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

False.
How can you make.tbis bogus claim na.
Ni ilu to lóba to ni ijoye.

Do you know there are a host of other similar exchanges that still allow users to trade USDT/NGN.

if you have funds in your Binance account, all you need do is to get the correct address of your crypto (e g USDT) on one of those available exchanges.
Then go to BINANCE, forward your funds from your wallet on Binance to this new wallet address.

Once it lands there, you can sell it for naira as you so please.

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

It warms my heart to know that we still have intelligent people like this who can see through the whole chicanery. Binance was just a scapegoat for the real culprits to pass the blame. How most people don't get it is what I don't understand.

lol

Anyone well vested in blockchain knows that every transactions in crypto is like an open book. A simple look at bscscan or etherscan and the likes can reveal even transactions going on in CEXs like binance. This fraudulent government should simply tell us how they came about the $26billion figure Just give us a single wallet address involved and we will trace the whereabout of the money even if the transaction took place 5 years ago.

But ofcourse we know that just like most pronouncements associated with this government.......it's just a figment of their imagination. They simply want to give binance a bad name inorder to hang it. I'm only sorry for the horde of online idioots that support them while they divert attention away from their own cluelessness. One thing though is that they can never stop crypto. This is why blockchain came to be in the first place.

Lol make them dey play. It would be easier to start world War 4 than get binance to release details of their customers to a failed country.

I lost 5 million naira on binance

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

Sincerely speaking, you are intelligent.

Islie:
Obinna Iwuno, President of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has refuted the Central Bank of Nigeria’s (CBN) claim that $26billion in crypto transactions could not be traced.

The CBN had raised concerns over the sum of $26 billion that flowed through Binance Nigeria over the past year from “unidentified sources”.

Iwuno explained that binance, a major cryptocurrency exchange, implements KYC (Know Your Customer) procedures, requiring users to verify their identities before trading.

Speaking on Channels TV on Tuesday, Iwuno argued that anonymity is impossible on centralized exchanges like binance due to mandatory KYC.

He said, “First of all we need to understand how these platforms work, here is KYC system which every platform implements.

“On binance, before you could even have an account to trade or perform any activity on binance, you must have done your KYC. That means every single person who had used binance or using binance is known.

“The other part also is the fact that these transactions on binance are on the blockchain which are not anonymous. What it means is that the whole world does not have access to your private information and transactions but when the law enforcement or government needs it, it can get it from binance.

“We have different cases of frauds, scams involving the Interpol, EFCC and different international police organization. Money floods into binance and the identity of the owner would be revealed.

“I am not faulting the CBN position but there are tools available that can be used to trace all of these things and binance cannot claim not to have access to information and transactions that happened on its platform. That is the point I am trying to make, all of these things can be verified and are all traceable.

“Several KYC measures they used, most of these crypto platforms use the BVN for KYC and acceptable documents are passport, NIN, drivers licence and permanent voters card.

“CBN is saying $26 billion is unidentified but they didn’t told us how they arrived at that. I can tell you these things are traceable, you cannot perform transactions on any platform as long as it passes through blockchain that it cannot be traced, and if you use the centralized exchange like binance it is finished because you cannot be on those platforms without your identity known.”


https://dailytrust.com/how-cbn-can-track-26bn-binance-transactions/

This is pretty well known to those of us who have a vast knowledge of Blockchain. Nothing is hidden.

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

I suspect that the CBN Gov. was referring to the huge Diasporan remittances, a large part of which may have been channeled into crypto.
Just only 2 percent of Diasporan remittances get to Nigeria as hard currencies while the remaining 98 percent gets converted offshore to other financial assets and the USD equivalent is credited into the bank accounts of the Nigerian beneficiaries.

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

oh jeez what a pity . nd you get Sense small ooo.. but where you knocked me off is where you said cbn should open it's own shop too on binance . Abeg how is that different from govt official rates or what exactly do you think is the meaning of official rates vs black market rates and defending the naira

Point is JP Morgan said in November that we have just $7bn total everywhere in the world has a country, how can we defend the naira with $7b .

The govt had no choice under the heaven than to allow floating or else the coffers will be empty

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

You're a big fat Joker. I still trade daily on binance. Infact my assets remain on binance and they are pumping non stop. You know nothing but open your mouth to cough lies.

[color=#006600][/color]

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

You know nothing.
Socal media be making ignorant people feeling funky.

[color=#006600][/color]

ivolt:
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

This is the quote I have been looking for since this whole nonsense started.

It is extremely easy to manipulate Nigerians and our government knows that.

judetov2:
Hmmm...one thing I know for sure is, if u have money in Binance then that money is gone.

Stop spreading false info, if you have no knowledge about crypto and Binance exchange

Most people dont even understand binance.

Buying and selling.

If you buy crypto with naira from binance and sell back the crypto with naira. The exchange keep going on and on you might have made a million naira transactions with the same amount in a month.

And i bet you that there are more money that came to Nigeria through binance than it goes.

It was when the naira was on a free fall that people started saving there naire to usdt to avoid the depreciation it resulted to a bad situation