₦airaland Forum

BondRiv:
Smh. People who should be on their knees asking for a plea bargain. This is what happens when the government is not serious about holding people accountable for their crimes. They get emboldened.

What crime did he personally commit?

All these illiterates on Nairaland. There's a reason why people register Limited Liability companies. So the company is a different legal entity from its owners.

This person is just an employee of Binance. He's not personally liable for any of the alleged crimes FG is accusing Binance of, so why should he be detained?

benjaminlawson:
Our government officials are just putting us in mockery state, where on earth will a criminal be put in a guest house? What is the purpose of our correctional centers, or DSS or EFCC detention facilities, all those people who colluded together and facilitated his escape should be sacked immediately and head of that unit be seriously warned.

What crime did he personally commit?

Richtaiwo:
Continue searching for anyway of hate and cursing Nigeria, it won't change nadda. But one thing for sure, pandora gringory the fraud will never be president of Nigeria.

Guy leave these your playground taunts. Are you 12 or what?

People are discussing serious issues and your own contribution is to make childish remarks because your person won election. Abi economy no dey affect you too?

Ibrahimcoomasie:
Of course, they would push back. They would rather continue paying millions of dollars to lowly qualified expatriates from China, India, Thailand, Philippines e.t.c. than train and hire Nigerians to take up those jobs. Something that can't happen in those countries I listed.

What will you say if those countries reciprocate?

If countries start charging companies for hiring Nigerians, what do you think will happen with diaspora remittance?

Awon master strategist that can't think 2 steps ahead.

Judolisco:
Dis government is already better than d last administration.... Garba shehu , adesina and Lai Mohammed really did a terrible job by shutting d media up for 8 yrs and responding to every critic with abuses .. Dis government dey even encourage una to protest

It must be nice, being so easily impressed.

The rest of us have higher standards.

tonicyril:
see them..

They will always make excuses for external bodies against their country, and they will be pretending to love the country dearly, no wonder they are the ones calling the country a zoo.

That was how they were supporting binance against the country despite the fact that we all knows the atrocities the saboteurs are using the platforms and its likes to commit.

Binance is so good that that countries like Netherlands, UK, Canada, China, India and the rest banned it from operating in the country.

U re blaming ur country for not emulating Canada, but u re the last citizen that would do what Canada citizen would do.

If u re like this, if u re one of those wanting the fall of Nigeria then it shall not be well with you and ur generations unborn, u shall not know goods in ur entire life.

Pray for Jerusalem and those that want it shall prosper that is what our Bible tells us, I this case Nigeria is our Jerusalem and if u want bad for Nigeria just because u want to gain cheap point, then u shall not know good.


They are still attacking me just because I cursed the enemy of my dear country.... imagine ooh

Patriotism and common sense aren't mutually exclusive.

People are frustrated because none of these measures are tackling the root cause of our current predicament.

fuckJones:
Between me and youwho has no brain? why did USA stop binance operation since 2019?

Binance operates in the US. It's just a different entity: binance.us instead of binance.com

When did crypto become foreign currency?

This government is just embarrassing us on the global stage.

Ilekokonit:
Nigeria's TOTAL Foreign Exchange Reserves stood at $33 billion as at 3rd January 2024.

So, in the last 12 months alone 79% of Nigeria's TOTAL Foreign Exchange Reserves passed through a dodgy online trading platform and was used to speculate against the Naira hence its apocalyptic descent.

When will the corrupt elite in Nigeria pretend to have a conscience or show even a whiff of care for the 200 million down trodden Nigerians ??
https://punchng.com/external-reserves-shed-77m-in-december/

What exactly does "passed through" mean?

And how did FG get that figure, if they're arresting Binance execs for not revealing user data in the first place?

When you do P2P on Binance, no money leaves Nigeria. The naira buyers pay with, is it UK or Dubai accounts they pay into?

Try and educate yourself instead of parroting what you don't understand. Crypto is not the cause of Nigeria's problems, it's just today's scapegoat.

By next week they'll find something else to blame.

Biodun556:
I think I read it somewhere CBN said they are allowed to make 1% profit

If the profit is not too much nothing bad. But not what happened under Buhari when CBN will at 400 naira and bureau de change will resell at 900 which crippled the economy and made government not to have value for the dollars it sold

Why do we need BDCs when we have a functioning banking system?

Abi banks cannot count in dollars when dispersing to customers?

2mch:
What you are posting is nothing. Trumps Son-inlaw was unofficial foreign minister when he was President. His daughter and sons had more say than the VP and nothing has happened to them till date. Nothing is happening to Hunter either. Trump is just being witchhaunted but he will still become the President of America.

I will not support Tinubu appointing his son’s in any capacity. But just occupying empty seats in private jet is not really a big deal. When their father is on official visits they will probably stay in the same house and eat the same meals. I don’t see the big deal.

Continue making excuses for your masters. One day they might notice and give you scraps from their table.

Till then, keep up the good work.

tonicyril:
Did u read the part where ur documents for the purchase will be presented??

Aboki wey go use documents wrap suya.

This is a meaningless policy that can't be enforced. Why do we need BDCs in the first place when we have a functional banking system?

Faiththatworks:
I'm sure the people writing this article don't have a binance account,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

Egbon USDT is just a token. Like BTC, ETH or SOL.

For its price to affect national policy, that should tell you how much trouble we're in. The government is using this as a red herring to distract us from real issues, and people like you are falling for it.

Daily trade volume of USDT/NGN on Binance is less than $3m, which is a rounding error for a country of Nigeria's size. So how can such a small amount of transactions affect anything in the real world? Or destabilise Africa's supposed largest economy?

The problem is that BDCs are selling dollars based on USDT prices on Binance, or online publications, instead of actual demand. But that's a completely different issue which can be solved by regulating them, or eliminating the need for a parallel market by making banks sell dollars directly to the public.

But in typical APC fashion, they'd rather find someone to blame than try to fix the real issue.

Thissystem:
You think so? A basic google search shows the news is everywhere online even on Binance platform by users.

The fact remains though that government needs a holistic approach to problem solving, not only Binance for this matter.

Did you actually read what you screenshot?

It's a generic PR statement. At no point did they say they're working with the Nigerian government.

vacanci:
the sincere question you should ask yourself is, when you wake up in the morning or at any time of the day and you want to check the price of dollar, where do you check it?

It's most likely on the platform like Binance and so it holds the key to determining how to black market sell it. Before Mallam sell dollar in the morning nowadays, they check what it's doing on those exchanges. The so called exchanges are dominated by manipulators.

Imagine as of 9PM yesterday, the total volume of trade that drove the dollar down from N1,900 to about N1,354 before driving the price back to above N1,600 at some point was barely $2 Million. Does that not tell you that with such a small volume compared to the usd in the banks, with mallams and politicians across Nigeria, they are able to direct the price?

This kind of reasoning is why we're in our current predicament.


Instead of tacking the real cause, you're blaming a symptom.

If USD was easily available at official rate, would BDC's pricing matter?


This is how Emefiele blamed AbokiFX years ago for naira depreciation. Did banning it change anything?

NairalandForumo:
If he goes after the major crypto companies, the companies will have no choice than to stop all transactions and ban all Nigerian users, give them a short time to withdraw their funds, and they might have no choice than to repatriate their funds back to naira.

Buhari outright banned crypto. Did that stop anything?

Crypto is way bigger than Nigeria. Las las Binance might close their Nigerian offices, but there's too much money at stake for them to ban Nigerian users.

ThatFairGuy1:
He stopped u from buying even more than that if u can afford it?

Or you expected someone of his caliber who has known work he's doing, a CEO for that matter to be smelling.
U have no say please

Besides politics, what's his family's source of income?

Confused people.

Go and arrest customs for pegging customs duty to dollars.

Perilous times ahead.

VeryWickedMan:
Hiding her moustache online.

Do you put your negative traits on your CV?

Okeytus:
Is Now CBN is waking up, hope all these new rules will have a significant action on dollar.

Attacking the symptoms instead of treating the cause.

Dollar scarcity is a supply and demand issue.

Give us stable power, and factories will start popping up everywhere. Once local manufacturing kicks off, we won't need to import so much, reducing demand.

Supply will increase when foreign investors regain confidence in us. For this to happen, the govt first has to start making coherent policies, tackle insecurity, and generally become more accountable to the masses. We also need to explore other commodities for exporting besides oil.


That's it. All these CBN directives are band aids that won't affect anything in the long run.

What's the interest rate? That's a crucial detail that's missing from this explanation.

Hoelujohn:
In 10 years time, she would have made times ten of that amount in uk

As what?

Look up how much caregivers make. That's if they even get enough hours to get by.

SALLYBERRY01:
I thought data is free abroad

Home broadband is uncapped, but mobile data generally has data limits.

Unlimited mobile plans are quite expensive.

jogojogo:
How are they losers?
When Sim is going to bring them back?
Then secondly, they will definitely get rewarded at the Federal level for a more juicy portfolio

Neither party wants them, so right now they're in political limbo.

Sim will use the constitution angle to say his hands are tied, and they can't be reinstated without another election. Tinubu will wash his hands off this matter, as it doesn't benefit him in any way.

You think federal appointments are that easy? Wike himself is a federal appointee, so where does he want to find 26 appointments from?

Most he can do is to make them SAs or get something for them in FCT.

LegendHero:
What do you think the governor should do?

Did Wike not know he is Ijaw before helping him get to the seat? Now suddenly Ijaws remember Wike is an enemy.

When Tinubu left Fashola alone during their issue, was Tinubu inferior/weak then?

The governor is just 6month old, most of the PDP structure still in Wike’s hand. In few years, the governor would have built his own base and by then even Wike will respect himself.

Everything is not by gra gra or fighting. You don’t fight for fighting sake, you fight to win in politics because if you lose, you will be crushed.

Your points are all over the place.

So Sim should have continued giving Wike 25% of Rivers State allocation because of structure?


As if you don't know that's what caused the rift.

jmoore:
It's rainy season. Rain is not an evil thing.

December is rainy season?

Xscape1993:
The best home truth of the century, but it is unfortunate that some people don't just like the truth.

Someone is saying your blood is tainted because of your race, and you're agreeing.

Clap for yourself.

QuotaSystem:
Fubara being taught that without Wike, he is just a 2G Sim.

Because commissioners are resigning?

People that will be replaced by the end of the month.

Abusufian:
Kai i swear Igbo's are d most stupid set of ppl i know. So d xame Wike who was once dere hero has now bcom dere sworn enemy al because he did not support Peter Obi. What a people........

How does Rivers matter concern Igbos? You people just like to bring tribalism into everything, and you don't even know what you're saying.

Lexusgs430:
If you reside in the south east, head to plumstead, FARA awaits you ..........🤣😁

Sadly, I'm in North-East England. I'll look them up though. Thanks!

I need to ship some personal effects back to Nigeria via sea freight.

Can anyone please recommend service I can use for this?