Nigerian government positoin on cryptocurrency

[magnus2022]

Nigeria government recent disagreement with Binance have put a lot of cryptocurrency enthusiasts in a confusing dilemma. A lot crypto enthusiasts don't really know the position of Nigerian government on cryptocurrency. As it is, from my research, Nigeria government have not banned cryptocurrency and is still tradable with Nigeria naira. Many other exchanges are still doing transactions in naira. Binance is having issue with Nigerian government on tax evasion and fixing naira exchange rates. While Binance have closed its doors on naira services, other cryptocurrency exchanges are still doing business with naira.

 

[King Belieal]

Exchange of any virtual currency to Naira is a criminal activity in Nigeria. If you receive a transaction that the description is shown that it was a virtual currency exchange, your bank account would be frozen and the law enforcement comes to arrest you.

 

[magnus2022]

Exchange of any virtual currency to Naira is a criminal activity in Nigeria. If you receive a transaction that the description is shown that it was a virtual currency exchange, your bank account would be frozen and the law enforcement comes to arrest you.

 

[Starmix]

Our government also proposed deletion of the Binance app and ordered chrome to do it as soon as possible. Also, all crypto users are mandated by the Central Bank to pay taxes for crypto.

 

[Suba]

Binance crypto exchange is not one of the listed exchanges and the Binance site has also been blocked for a long time, but personally I can often access Binance. Apart from that, there is also a local exchange TokoCrypto which also belongs to Binance and users can also log in with a Binance account.

 

[King Belieal]

All my banks are sending me notifications that crypto trading using their platforms is completely prohibited. And I am sure it is the federal government that is putting pressure on the banks.

 

[Augusta]

Yes, the directive is from federal government but if this will boost the economy then no issues

 

[emira]

Government do not know what to do they are just bored and looking for way to ease their boredom
never the less they should continue a time of beckoning will surely come

 

[Fidelia]

It is a pity that the government is looking for everything to blame the falling Naira on. It is a pity though that the blame game on crypto is not even working.

 

[U30BILLIONAIRES]

In the regard one need to have Bank accounts in countries that accepts crypto exchange.

 

[Fidelia]

The value of the Naira still keeps falling even as crypto has been banned. Who would they blame this time? It is on a free fall against the dollar.

 

[riberet19]

I hope that more freedom comes for Nigerian citizens, the Nigerian government should support cryptocurrencies as a means of exchange instead of trying to ban or persecute them, that will not help the Nigerian economy to flourish.

 

[kerryjoy]

I hope Nigeria get the freedom to use crypto market

 

[King Belieal]

The value of the dollar against the naira is still very terrible. Any small gain by the naira would be eclipsed by a more proportionate appreciation of the Dollar days after. And crypto activities are still going on unabated. So many Nigerians made it big from Notcoin.