₦airaland Forum

OK o.

CNN vs Lai Mohammed

Other countries are making laws to harness social media for economic benefits of their citizens. In Nigeria, social media regulation is to control free speech.
The guilty are always afraid.

Great opportunity to turn pro

Remain silence, so as not to disturb Buhari. He is working.
N1 = $1 soon.

Beautiful piece

Great info

Story to the gullible.

The she-man. What a generation.

Not again

What an image. This is a burden to the police force.

Another dimension to video marketing

How transparent are all these schemes? Are they not another means to loot the already weak treasury?

Buhari is working. N1 = $1

A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances.

According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1:380 is robbing recipients 20-30% of their remittance value each time they retrieve funds. At the time of writing, the parallel exchange rate of one dollar to the Naira is 1:480, according to Abokifx.

Similarly, importers that are hamstrung by the country’s rigid foreign exchange regulations, are now resorting to bitcoin when making payments online or across borders. Speaking in an interview, Lasebikan says bitcoin has also given Nigerian residents an opportunity to pay for services or utilities that the CBN usually deems unnecessary. He says:
"Another thing would be for people who want to have access to resources outside the country…You want to pay for Nexflix, Apple Music. All of the things the government is aggressively clamping down on."

The software engineer explains that Nigerian authorities had, prior to this year’s events like Endsars protests, “been oblivious to the immense potential of bitcoin.” During the lockdown period, cryptocurrency usage in Nigeria grew and the country is now ranked as one of the top cryptocurrency markets. It is events in the crypto world in the past twelve months that may have helped change the Nigerian government’s perception of cryptocurrencies.

Consequently, as Lasebikan acknowledges, officials might now want to take action to slow down the adoption of digital currencies by Nigerians. According to Lasebikan, one simple way authorities can achieve this is by clamping down on centralized crypto exchanges, enforcing more rigorous KYCs or driving crypto companies out of the traditional banking infrastructure.

Still, as Lasebikan explains, this “will not kill bitcoin or the value of bitcoin” because the “majority of crypto activities happen in informal channels.” He says any clampdown will not result in the dropping of peer to peer trading which is initiated via Whatsapp or Telegram social media chat groups.

Bitcoin trading is censorship-resistant and there is no way for Nigerian authorities to stop or reverse transactions. Awareness of this and other attributes about bitcoin means the CBN and others will not succeed in any effort to control the digital currency. For crypto users, knowing of this is reassuring and it helps to maintain or accelerate the adoption momentum.

Source: NEWS.BITCOIN.COM

damscoe:
Hello everyone . Can anyone give a candid advice on a profitable business that can be done with 100 millionnaira apart from real estate business ? Your contributions will be well appreciated .

You can invest in land and agriculture

RIP to the late princess.
To the young lover, did you marry her for love, or for her wealth and position?

This is a sign that if the finally ended up in marriage, money matter could still break the marriage. Many marriages crash due to financial misunderstanding.

Pretty Mike trying hard to be in the news. Anywhere, everyone with his own publicity gimmicks.

Nigerian presidency does not come cheap. The south east needs to pay the price. That price is called UNITY. There is no unity among the Igbos, how then will other regions trust them with the presidency?

Government needs to be proactive. A stitch in time saves nine!

..searched for ''sinners''.
This one weak me

Congrats, beauty.
While rebuilding your life, stay off the likes of Flavour.

Pretty Mike trying hard to get attention.

Interesting

The way you lay your bed can determine a great deal who your sleep last.

Good news

Catch them young.

Animals have no soul or spirit. They go nowhere after death.