The Central Bank of Nigeria, today, announced a sweeping ban on cryptocurrency purchase and trading in the country. E say Cow Ranching business dey more lucrative than all cryptocurrencies combine and call am CowtoCurrency Networking and laugh at di end. Wia dis foto come from, Twitter/ Reno Omokri. Wia dis foto come from, Twitter/Screenshot. De external site no concern BBC. Cryptocurrency in Nigeria. Get the latest Nigeria News on Ban on Cryptocurrency Anchored on Financial System Protection - Emefiele. We must remove every thing wey dey block investments. The Senate of Nigeria has summoned the CBN governor to explain the decision to ban cryptocurrency. We must expand di economy. The ban ordered all the commercial banks in Nigeria to close the accounts of those related to cryptocurrency exchanges and other transactions related to cryptocurrencies. Former Nigeria Vice President, Atiku Abubakar for im reaction advise Central Bank of Nigeria to revisit di policy wey ban di dealing and transaction of cryptocurrencies. Following the recent ban on Cryptocurrency by the Central Bank of Nigeria, CBN, the Senate on Thursday mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the CBN Governor, Godwin Emefiele to clarify controversies surrounding the ban. Cryptocurrency in Nigeria E add say make those pipo wey hold Cryptocurrency in any form, no fear because dem just get richer with dis ban. Na on 14 September, 2020 Nigeria Security and Exchange Commission [SEC] decide to dey regulate digital assets like cryptocurrency for di west African nation. Governor of the Central Bank of Nigeria (CNB) Godwin Emefiele on Tuesday appeared before the Senate to defend the ban on cryptocurrency trading in the country. She also put up anoda oda tweets wey refer to di CBN Policy; "As Abraham Maslow tok for 1966, "I suppose e dey tempting, if di only tool you get na hammer, to treat everything as if dem be nail. "Di only thing di ban go do na to shut down di trade in Naira and puts more pressure on di Naira with high volume of transactions in Dollar. Osinbajo Disagrees With CBN On Cryptocurrency Ban (Video) News. And apart from available statistics, the validation that came in 2020 alone was enough proof. "If we get economy wey dey very weak and we no fit regulate cryptocurrency in Nigeria, then I no know how our economy go be for di next seven years," Senator Sani Musa tok. Di 5 February, 2021 Nigerian cryptocurrency ban wey Central Bank of Nigeria [CBN] announce, be like follow up to di CBN circular on 28 February, 2018. Wia dis foto come from, Twitter/@tokunboAbiru, "For di last five years, we don get pipo wey dey change cryptocurrencies to over 500 million dollars. Transactions, investment and transfer of funds through cryptocurrency is on the rise. Atiku wey be rich businessman and get pleti business investment inside di kontri say wetin Nigeria need now na more jobs and to open up di economy. Transactions in cryptocurrencies are largely speculative, volatile and should be discouraged, the Central Bank of Nigeria (CBN) says. Also Nigeria Musician Davido, wey bin tweet on 2nd February, 2021 say im dey think about starting Bitcoin trading company, surprise to see dis CBN recent reminder to bank on crytocurrency traders account. "Di number one challenge wey dey face Nigeria youth na unemployment. On February 5 2021, Nigeria, through its Central Bank banned the use of cryptocurrency and offenders face grave penalties due to the perceived dangers to both end-users and the country. The … If you get issues with Crypto and BitCoin, regulate am but no elimate am. Eliminate am and you eliminate jobs. What we should do na to invite di major stakeholders to public hearing," Senator Abiru tok, Wia dis foto come from, Twitter/@yayiadeola, "I dey strongly against di outright ban of dis medium of exchange by di Central Bank of Nigeria (CBN). The director-general of Nigeria’s Securities and Exchange Commission, Lamido Yuguda, has stated that the central bank’s crypto ban has triggered major market disturbances. The Securities and Exchange Commission (SEC) said in a statement on Thursday: "For the purposes of admission to the regulatory incubation process of the SEC, the evaluation of … The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Governor of the Central Bank of Nigeria, Godwin Emefiele to brief it on the recent ban on cryptocurrency in the country. Read all the latest updates and stories on Cryptocurrency ban in Nigeria and more today, April 9, 2021. E add say Nigeria need to open dia Economy and not to close am. Earlier last month, the Central Bank of Nigeria announced in a circular that it had placed a ban on financial institutions from facilitating cryptocurrency-related transactions. The Nigerian Cryptocurrency Ban is Announced. "You no need to throw away di baby with di bath water. The Nigerian Securities and Exchange Commission says it is collaborating with the central bank to develop a regulatory system for cryptos and digital properties. Gbenga Sesan wey be social entrepreneur say if to say pipo get confidence for di monetary policies of CBN and di fiscal policies of Nigeria goment, dem no go do Cryptocurrency and Bitcoin. Cryptocurrency ban in Nigeria: CBN, SEC to provide level field for investments The Central Bank of Nigeria (CBN) and the Securities and Exchange … And our youths need jobs! With over 11 % of Nigeria’s Internet subscribers involved in crypto, Nigeria has been ranked 5th … "We no create Cryptocurrency and so we cannot kill am and cannot also refuse tomake sure say e work for us. In a statement on Thursday, the Securities and Exchange Commission (SEC) said; “For the purpose of admittance into the SEC regulatory incubation framework, the assessment of all persons and products affected by the CBN circular of Feb. 5, 2021, is hereby put on hold […] Bitcoin: Wetin be dis digital money thing? ", "We must create jobs in Nigeria. Dis ground breaking statement (dat time) bin surprise many as e be say di Central Bank of Nigeria don draw ear before give Nigerians say dealers and investors in any kind of crypto currency in Nigeria no dey protected by law. But if dis CBN policy tanda, e fit trap millions of dollars cryptocurrency money inside Nigeria wey get di second largest Bitcoin trading volume inside di world. Dis Nigerian enta di mata by wondering why Nigeria no fit embrace Cryptocurrency like Ghana and Senegal. In fact, no be challenge, na emergency. BBNaija’s Nengi Looks Effortlessly Beautiful in her Skintight Outfit (Photos below) “There Will be No Nigeria”, Igbos Ready to End Nigeria if This Happens in 2023 (Details below) In a move that sparked outrage on social media earlier this month, the CBN issued a reminder to regulated financial institutions in the country that a 2017 regulation prohibits them from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges. De external site no concern BBC. Nigeria has set the pace in the acceptance and use of cryptocurrency in Africa. Davido express shock and say dis dey happun just three days afta im bin tell e more than 8 million followers on twitter about plans to go into cryptocurrency, "Wooooooow only took 3 days" Davido tweet, Wia dis foto come from, Facebook/oby Ezekwesili. At di end of di tok-tok, di Senate come decide to Mandate di Committees on Banking, Insurance and oda Financial Institutions, ICT and Cybercrimes, and Capital Market to invite di CBN Governor for briefing on di opportunities and threats of di Crypto currency on di kontri economy and security and to report back findings within two weeks. The countries’ Central Bank announced a blanket ban on accounts involved in … Segun Awosanya wey be Nigeria social activist react say dis ban go only shut down di trade in Nigerian currency [Naira] and make di Naira lose value as pipo go dey trade mostly in dollars. 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All Cryptocurrency ban in Nigeria news, pictures, biography, interviews, gossips, music and more. Wia dis foto come from, Twitter/Nigeria Senata. This has sparked huge contentions among experts, operators and speculators alike on the rationale of this ban decision, and this article intends to dissect the various angles involved. E say if di goment no fit create jobs for youths, then make dem no destroy di jobs wey di youths create for demsef through Crypto and BitCoin. Debo Adedayo AKA Mr Macaroni wey be Nigerian comedian wonder how di Nigerian Cryptocurrency ban fit be solution to di plenti problems di kontri dey face. Still, Nigeria has banned the fastest growing cryptocurrency- bitcoin. Ethereum cryptocurrency: Ether fit overtake Bitcoin as top Currency Coinbase? Nigeria senate don do serious tok-tok about di decision of Central Bank of Nigeria to stop Financial Institutions from transacting in Cryptocurrencies. You no need to destroy Nigeria economy because of regime security. Edujandon.com – Latest Nigeria News Updates. Bitcoin don make our currency almost useless or valueless. Dis children dey do great business with am and dem dey get result and Nigeria cannot hide demsef from dis sort of business.". Elon Musk, wey be business mogul and one of di world richest pipo, na big supporter of Cryptocurrency as means of income and investment. ", "Dis definitely na di wrong time to introduce policies wey go restrict di inflow of capital into Nigeria, and I advise make dem revisit di policy wey ban di dealing and transaction of cryptocurrencies. Cryptocurrency: Bitcoin Ban On Nigeria Bank Accounts Might Be Suspended Soon – Senate Confirms (Read Full Details) Posted by Makinde AZ. The Federal Government has reportedly considered suspended the ban on cryptocurrency. The economy of the country might be endangered because this cryptocurrency has played a vital role in establishing the economy of this developing country. The governor of Nigeria’s Central Bank seems to have relaxed his position on cryptocurrencies for people, if not banks. Former Presidential Candidate for Nigeria, Adamu Garba react say make those wey lost dia money through Crypto invest on real assets, like cows, wey im say go bring huge returns on investment. Recently Central Bank of Nigeria [CBN] send letter of reminder to all banks inside di kontri to stop dealing in Cryptocurrency or facilitating payment for Cryptocurrency exchange. For dia plenary on Thursday, February 11, some senators tok dia mind and wetin dem think about Cryptocurrencies transaction for di kontri. Meanwhile some oda notable Nigerians don begin react to dis new development concerning Cryptocurrency for Nigeria. Nigerians don trade more than 60,200 bitcoins since 2015. Nigerian cryptocurrency: CBN ban Crypto [Dogecoin, Bitcoin, Ethereum] trading in Nigeria as China, India, Iran ban crypto-currency trades 7th February 2021 Di operators of dis so called currency dey everywhere.". Cryptocurrency ban by Central Bank of Nigeria [CBN] dey generate reactions all ova di west African nation. Nigeria has proven to be a hotspot for cryptocurrency. SEC say di move na because 'digital asset offerings' like "crypto-token or crypto-coin" dey provide anoda way wey pipo go fit invest or keep dia money as asset. 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Reno also add say di Naira go collapse more against di dollar sake of dis decision to ban crytocurrency. In a letter dated 5 February 2021, the Nigerian government through its apex bank – the Central Bank of Nigeria (“CBN”) – clamped down on cryptocurrencies in Nigeria. Cryptocurrency Ban in Nigeria:On February 5, 2021, the Central Bank of Nigeriareleased circular prohibiting regulated institutions from dealing in crypto currencies and facilitating payments for crypto currency exchange within the country. He therefore supported the position of the Central Bank of Nigeria on the ban of cryptocurrency, stating that cryptocurrency had been linked to money laundering and terrorism financing. Months after the Central Bank of Nigeria (CBN) banned cryptocurrency trading in the country, the Securities and Exchange Commission (SEC) … De way wey we de take go external link. Dis motion na most important to us. The crypto ban was announced in a now-deleted circular dated February 5, 2021. © 2021 BBC. Prior to the ban, Nigerian companies had begun gaining a foothold in the cryptocurrency industry and put up stiff competition to foreign service ... Latest News. Dat fit be beta option, than dis outright shutdown.". © 2021 BBC. ", "All over di world, these cryptocurrencies dey regulated. Rinu Oduala wey be popular Nigerian youth for Lagos sake of di #EndSARS palava of 20 October, 2020 also comment on di Nigerian Cryptocurrency ban. FG has recently lifted ban placed on cryptocurrency exchange in Nigeria. on Feb 11, 2021. under Naija News, Trending 0 ", "Already, di kontri don suffer serious economic loss from di border closure and di effects of di COVID-19 pandemic. What di CBN should be telling Nigerians na di regulations wey dem don put in place to regulate di activities of di operators. "Cryptocurrency don become worldwide transaction of which you cannot even identify who owns what. Then suddenly, on February 5th, 2021, BOOM! But Cryptocurrencies whether na crypto-token or crypto-coin don dey make waves for Nigeria no be today, even outside Nigeria, many pipo don show di greatest interest in cryptocurrency world wide. Governor of Nigeria’s central bank, Godwin Emefiele, says the federal government`s ban on cryptocurrency is in the best interest of Nigerians. ", "Even our Security Exchange Commission (SEC) also recognized cryptocurrency as financial asset deyy need to regulate. Di technology dey so strong dat I no dey see di kind of regulation wey we fit do. For di letter wey CBN send on Friday, 5th February, dey order say make banks "identify any pesin or groups wey dey do business or dey operate in crypto currency exchanges within dia systems and make sure say dem close down such account sharperly. Wallstreetbets Reinstates Ban on Cryptocurrency Discussions, Citing Bloomberg Coverage Press releases SafeEarth Donates $100,000 to TheOceanCleanUp Kicking Off Blockchain Eco Project De way wey we de take go external link. 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