The Nigerian Government and its CBN are so clueless we need to pray to God to intervene b4 this Man plunges the nation into irreversible chaos. There are Billions of Naira stuck on Crypto Exhanges, millions and Dollars equally stuck now that cannot be withdrawn back to the same economy those half baked policy makers are trying to protect. With less Naira in banks to purse Dollars, dollars would still rise. People make money from Crypto currencies and plow it back into the Nigerian Economy is the form of projects and services. But their dumb self cannot see that far because their myopic minds cannot comprehend why less people are leaving their cash in banks. Ofcourse why would I invest in fixed depoiste when I can make what the bank promises in minutes. Even the banks wont invest in their banks. Wicked souls.. India Government failed with this stupid kind of policy at the supreme court. So will the CBN. Banning crypto is not teh solution but regulating that sector.

AntiNigerian:
abeg how you take dey run am?

It's simple just buying from cheaper source with credit/debit card and selling at higher price on other platform... I buy from binance.. And sell on quidax... That's no longer possible with this policy

that is cruel to every one in this nation

See where wahala started.

jaykay68:
Pls does this affect bitcoin too?, l have 2 bit coin.

liar

capitalzero:


Exactly. Crypto is a threat to CBN, forex, stocks, bonds and other traditional financial institutions.
Criminals like drug barons also use crypto for money laundry.
If crypto overshadows traditional financial institutions, CBN will not able to make effective monetary and financial regulatory policy.
Also, wef with other world financial organisations is planning for great reset of currency. I do not know the detail.

Abeg when last they make "effective" monetary policy??

Harmlesspill:

You sound so awkward ...
Yahoo guys are all over the world.
Go to Philippine, Thailand, Ghana, everywhere.
Is the Nigerian Government Trying to bring sanity?
Of course you know the answer.
Our politicians are busy sending our money overseas, and you're busy saying trash about Yahoo guys that what they're doing doesn't have a fucking effect on our economy.
I'm not a Yahoo guy buh I don't support the move of the most useless government in the world

I don't care whether Yahoo guys are everywhere, what i know is Nigerian scammers are lousy and dumb, they keep getting caught and even when they are not, they're too loud, up to the extent that outside of Nigeria, everyone thinks you're a scammer once you mention Nigeria.

The other dark side is , whether you like it or not regardless of statistics, Nigeria has become the poster child for fraud.

This has resulted in blocking the average Nigerian from being able transact with the outside world. Eg sending funds, buying, online work etc.

This has damning consequences but what do I know, you can't see further than your nose.

Keep making straw man arguments about criminal politicians and yahoo as if either group is of any benefit.

This government is useless, is because of the ESN,IGBOHO fund raising,and END SARS, that warrant such I pray that their children will know no peace.

doxijaw:



I don't care whether Yahoo guys are everywhere, what i know is Nigerian scammers are lousy and dumb, they keep getting caught and even when they are not, they're too loud, up to the extent that outside of Nigeria, everyone thinks you're a scammer once you mention Nigeria.

The other dark side is , whether you like is or not regardless of statistics, Nigeria has become the poster child for fraud.

This has resulted in blocking the average Nigerian from being able transact with the outside world. Eg sending funds, buying, online work etc.

This has damning consequences but what do I know, you can't see further than your nose.

Keep making straw man arguments about criminal politicians and yahoo as if either group is of any benefit.

.
So what happened to our big Yahoo men??

Vistra40:


Before you come at someone, try to understand why I was furious with the guy! He is a sycophant of the government going by his antecedents here and he stated it in such a way as though he was saying “it serves them right”. Or are you one of the buharist sycophants too?

ok bro. I got u now. I can never b a BUHARIST(FOOLISHNESS)

Nigerians please be very careful at this time. Do not allow anybody to trick you into depositing your coyns into any fake crypto exchange for withdrawal. Only stick to the known ones please like binance.

Due to this CBN policy summersault, fraudsters would be out in large numbers now on facebook, youtube, twitter, instagram, whatsapp, telegram, snapchat and the likes advertising fake exchanges where you can deposit your coyns. Please dont fall for the cheap scam. Your coins would be lost forever as soon as you deposit into any scrupulous exchange. Only stick to the well known ones and do proper research before you deposit your funds, lest you put yoir hard earned money into waters. Na beg I de beg o.

Ive once been a victim of this and that's why Im warning you now.

Harmlesspill:
.
So what happened to our big Yahoo men??

A criminal is a criminal.

The way I look at it is let them keep flushing out yahoo boys, the less yahoo the better, as for the politicians, their time will come.

We can't be bad citizens and expect good leaders.

paulolee:
nooo naaa...i thought crypto currency is taking over...as an economist I'll surely analyse short run n long run reasons for this new policy..
I would like to know how positively it would improve d monetary policy of our economy and alos the effect it would have on our already weakened naira currency...

What is wrong with you

paulolee:
nooo naaa...i thought crypto currency is taking over...as an economist I'll surely analyse short run n long run reasons for this new policy..
I would like to know how positively it would improve d monetary policy of our economy and alos the effect it would have on our already weakened naira currency...

They are using it to dissuade terrorists financing !!

The reason they prohibited crypto is because they can't control it.

coputa:
The irony of it all is that,we don't Choose our leaders they are selected by the ruling class, your vote does not count.
Nigerians go suffer tey

This is only possible when the People don't care about who rules them! And Nigeria is a perfect example. We rather go to work than go to voting centres to vote

Neddstark:
Crypto exchange is not a bad business. Just that scammers and criminals have been taking advantage of it lately. Its like more kidnapping ransoms have been paid through bitcoin ever since the first somewhile ago. Also yahoo boys scam their clients via bitcoin payments lately. But the government should have been more proactive in fighting crime. Cryptocurrency has come to stay.

Then tell the government to ban the security agencies from using guns since kidnappers and armed robbers also use guns

munachiso58:
how sure are u bro??

I just checked and it seems to have been removed from their website.

legacystore:
Crypto currency is an easy way to cash out by criminals esp yahoo boys n needs to be regulated

If you call what CBN just did a "regulation" then wow

Flynnthekidd:


Abeg when last they make "effective" monetary policy??

Lol. It would be worst.

Goalnaldo:
What he said it's true. Don't be quick to attack people. The FG believed that the end SARS protests were funded through crypto currency

Yeah I know bro! I attacked the guy cos he is a sycophant of the government and there is a tone of mockery under his comment

DESTROTECH:


What are u saying?

That crypto is the problem Naira is falling pity u

No, you should be pitied for your lack of sense. People like you do not like facing the truth other than blame something that is not connected in any way to your failures.

How is crypto the reason the Naira is falling? Can you explain why?.

I bet you can't.

I apologize for being part of those that encouraged people to vote for Buhari during the first election, I encouraged over 80 of my employees in Lagos to vote for him, I thought he was the messiah. I later realized that this man really has nothing much to offer. Someone that thinks today is Monday[/quote]

Keep ur apologies to ur self. U learnt nothing from history about his personality so let's enjoy ur blind and unreasonable choice till 2023. Kudos

legacystore:
Crypto currency is an easy way to cash out by criminals esp yahoo boys n needs to be regulated

Nonsense. Fraudsters cash out through the normal banking system too.

The crypto market works on the principle of the free market. I bet you know nothing about economics.

Inteltower:


Thunder fire you there with ur naira
Mumu, crypto has been a money making avenue for a lot of the youths
So u prefer them doing yahoo yahoo

Look at ur stark stupidity

In this worthless government and failing economy

Was it crypto that brought the backwardness of our economy or the same idiots in powers that is dishing out this ban

Una never see anything yet,sebi una dey support the so called Efcc clamping on anybody with laptop.I repeat again,una never see anything yet.

Okoroawusa:

It will never be well with anybody that participated in ENDSARS protest directly or indirectly.

Oga channel your anger to who're supposed to channel it to. Not to people demanding for a better country

softset:
I have always said it that this government is run by insane people. How could you just wake up and make such a decision?

I won't blame them, next election, if you like collect 5000 you will get worse treatment.

Look at NIN, some idiot just woke up and made a decision without putting lots of things into consideration, so I arrive Nigeria now with no way to get a phone number. Many government decisions are never thought through.

We deserve better than what we are getting, Nigerians are smart people, we should never settle for less , mediocrity should not be an option when choosing leaders.

I apologize for being part of those that encouraged people to vote for Buhari during the first election, I encouraged over 80 of my employees in Lagos to vote for him, I thought he was the messiah. I later realized that this man really has nothing much to offer. Someone that thinks today is Monday

Silly talk.

You thought you were wise voting Buhari to spite Goodluck and his supporters!


Too late.


Blind Bartemaeus.

ibkayee:

Uncle you still haven't told me who you are

Lolz..uncle? why are you doing this? have you forgotten we met at piccadilly circus and Trafalgar square few years back, we dated afterwards and you became preggy with my baby? try to think deep babe

Cryptocurrency ��1xbet ��Withdrawal��Naira�

Rikidony:
guys pls hold on, what does this mean, is it that all my money i invest in Luno, Roqqu, Binance and Abitrader is gone and i cant withdraw back my money, because I'm not understanding..

Exchanges bank account will be closed....if you have crypto like bitcoins, you can still trade from peer to peer trade options on exchanges like binance.

showafrica:


This is the worst part of it.. They dont want to grow and they dont want the citizens to grow either. I don't understand these leaders... May be they think esn is been funded with crypto. Which kind country be this... I just wan buy btc now and no payment option available for Nigerians. This country is vexing...

Buy from a vendor na