Bitcoin Forum

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.

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They will surely comes for other exchanges.

My brother, as I see this ur thread, the first thing I go check na my kucoin account and if I fit transact, bro their reply is; your can't perform this trade due to country or region, I just wonder which kind government we get as a country,  other countries problem dy totally different, but our own problem na man made problem,  bad bad leadership up and down.

Though e fit still be network wahala because no announcement has been made, but if truly say kucoin don leave the Nigerian market, then no be good news at all, because wetin I just observe from this present government administration is that them dy only pursue policies wey go hit the common man hard, I no know if anyone dy also see am like that.

This is no longer funny anymore as I also woke up to same notification this morning, it is now clear that the government is mean in their decisions to clampdown on cryptocurrency exchange platforms but my question is how long will they continue to fight cryptocurrency even when they know that they can not completely succeed but however even if they clampdown the whole exchanges i trust Nigerians because they can convert their crypto to USDT and other tokens then accumulate it to some huge amount afterwhich they can convert it to other country's currency and still make use of it abi you dey whine Nigerians?

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The exchange just did not announce it but naira P2P on the exchange has been removed. It has been removed and we know that our government and regulators are the ones responsible for it.

This didn't come as a surprise to me, I already know that this is going to happen, after binance removed their naira p2p I already know that the next people the government will be sanctioning is kucoin, it has happened and we should expect more, I don't know what the government stands to gain in this, if there purpose of sanctioning all this exchange companies is to help naira to appreciate in both the parallel and black market, I think such action of theirs is trial in furtility, many exchange company do exist so we should carefully research about the ones we like and chose from their, this is a clear indication that the government doesnt encourage crypto business here.
Naira will only appreciate if the right approach is been practice or used to tackle the matter at hand, as Nigerians we know that the government are not getting it right, an underdeveloped nation do not fight innovation or technology instead they embrace it and figure out ways it can benefit their country, naira does not have value we know that already, so what next, have the government been able to workout modalities in solving this menace without throwing blames for know reason, no matter how they try to frustrate bitcoiners and crypto business in the country, we wont give up, we will keep doing what we know how to do the best without distraction.

To be frankly speaking, It's really sad to see our Naira (NGN) p2p trading pairs been removed from reputable exchanges every single day. I really don't know what we did to deserve all this from this present administration. But however, one thing for sure is that no matter how this administration tries to fight and eliminate Bitcoin by all means, they can never force me to prefer fiat over Bitcoin when it comes to long term investment. I'm a die fan of Bitcoin, and I shall remain a die fan of Bitcoin. So the earlier our government understand that the youths of now our days have chosen the part of Bitcoin over fiat, the better for them. And thank God for the anonymousity Bitcoin grants us, because who knows what they would have done to us, had Bitcoin been transparent.

This is not a matter of joking anymore, we need to fear government because if they put their mind say they want to do this, they will surely do it even though they will not succeed at the end of it. The issue of dislist naira p2p in every exchange no dey funny at all, after Binance and OKX now is Kucoin. We don't know the one wey dey will ban later. Truthful, I no reason am say dey will ban this so quick because there's other exchanges that are more popular than kucoin. If they are not tire to fight cryptocurrency, we can also not tired as well. My advise be say make we try have account like 3 to four exchanges, at least as they ban Kucoin now na to use the one wey dey available.

However, you're right, even though all the exchanges suspend p2p trading for Nigeria, we go still look for another way because na naija we dey, everything is possible.

I believe kucoin have gotten some signal that they me be a target after what biance experience by taken away their two staff,  fir them to announce it official may not be deem necessary for them the truth remain that we all know where everything is coming from which is not less than the government, what our government is doing is very disheartened because not just to stop all means money is entering the system without building up the nation to generate income due for it's citizens.

When some people do argue about our leaders mostly the so called APC that nothing good will come but destroying the economy I thought they are haters but is clearly becoming reality, it easy to start a fight but ending the fight that's where the problem lies because I don't think one nation can make crypto currency to stop beside our government are good in touching hand in every system or things without doing it well at the end.

And we are ever ready to see them manifest these, maybe we can see if that will be the reason that can drag the performance of naira against dollar or not, but am very sure they cannot halt on all other exchanges, this is something that the government will have to understand, this thing the government are doing is going to cause another loophole to them that will serve a vulnerability to more fall of naira against dollar.

In a case like this, what do we do? Do we just sit and watch the government ruin everything, because I have seen no impact upon all their actions everything seems void and empty. Now they have successfully removed NGN P2P from the most reputable exchanges how do we cope or we just have to continue spreading out our privacy to many more exchanges and after a while they aswell becomes a target. How many more exchanges are left? What decentralized P2P is valid to use? A lot is really going on in the country which needs to be addressed but why no one standing out?

This is not the first time Nigerian government is closing p2p from exchange, it all started from binance and today kts kucoin. However, from the beginning of this clash between p2p and Nigerian government fight against dollar and naira we have lost binance already and we moved to kucoin, so today kucoin p2p is no longer available to Nigerians, I believed there are more exchanges that we can use if we want to exchange coins to fiat.

Unfortunately, there is nothing we can do that is government for you they have the ultimate power over the affairs of a country so we just fold our hands and watch them do their worst after all this form of frustration isn't new to us anymore, when they banned cryptocurrency did they stopped everyone from participating in crypto projects? Were they not the ones that still lifted the ban in December last year? So let's chill and see how far they will go in making life unbearable for the common man but however, to everything there is an end.

My concern is just that a lot of Nigerians may get scammed and defrauded because moving to other exchanges that are not reputable can lead to loss of funds and assets and there is no one to hold accountable, this is really a bad news for me because ever since they banned binance from performing the Naira p2p transactions i moved to kucoin and now that kucoin have been affected as well were do i move to again? Chaiii there is God o but worst come to the worst we convert our cryptos to USDT and keep them in spot wallets till anytime they change their mind, it's even an advantage regardless of the fact that it will be a hard decision to take but by then you must have accumulated a lot of USDT such that when you sell it you can compete with one wealthy paramount ruler at my place but come to think of it, this is really becoming too much let's call 'a spade' 'a spade' but anyhow e be we go bear am highest sef we learn how to hodl to accumulate more Bitcoins as against the upcoming bull run then we explode, every disappointment is a blessing in disguise.

I'm surprised they didn't make any announcement, which for me is wrong on their own side. They where suppose to send a mail to their customers in informing them about the new development, at least that's the standard.
The government of Nigeria have been seriously fighting these central exchanges on the low, for them to stop P2P transactions.
Omo e no get how them wan do, we go always improvise other means to use do our transactions. The first to remove Naira P2P on their platform was Binance, now it's Kucoin, they are literally fighting all the reputable xchanges.

Nigerians contribute a lot to crypto be it this forum or trading volume or in support functions but this country is rules by psychopaths because not only they create hardship and when they cannot uplift the situation where they have pushed people when people have found a way to improve their standard of living and have extra income they are restricting that as well. What is it they want? Do they want people to starve and die?  First Binance, now Kucoin

Accounting to the information I got from the kucoin message it is a temporal suspension but the vanguard newspaper headline of online blog says, kucoin finally bow down for federal government and suspended their p2p. And my question is always like this. Upon all the crackdown of cryptocurrency centralized exchanges in the country, dollar is still going up. As for me they are just doing all these to show that they are doing work to make sure that naira appreciate but from their mind na lie. As far as Tinubu na be di president of Nigeria, dollar go dey dominate.

Because Tinubu himself e no dey use Naira na only dollar. So all these things we dem dey do. Na just for formality and nothing go happen. Even di person wey go come after Tinubu go worse pass am. Until we have someone who really like and love di Nigeria Naira before we go fit enjoy Nigeria again.

This matter na hand of the enemy of progress and the enemy no pass our government, this matter shock me to the extent say I Dey think am again and again, as I hear the matter my first think be say waiting Dey do our government, who goes them wey them no wan make the youth survive, another exchange wey person Dey use them don block am again, this thing is getting out of hand, the first time na Binance and now na KuCoin the next one go be another exchange and gradually them go block all the exchanges and at the end everybody go eyes go open and see maybe na good or bad decision our government Dey make.

I be wan ask, waiting be the main achievement that Nigeria will get from this thing ? Waiting them wan gain? Abi the government are thinking that this is the only way to make the country better, okay na make we Dey see our this thing go end whether what the government are doing is good, but for this thing na greediness and another way of sleeping from the people who are into crypto.

A friend send me message dis morning to give me dis sad news, di thing just ruin my day, I just de wonder how our government go take dem hand de comot food from dem citizens mouth, our country matter just de tire me di more everyday. First na Binance, den na okx, now na cucoin, who know di one wey go be next, dem just de disable all di reputable exchanges naira p2p. I hope say people no go jump enter scam crypto platforms because of dis developments, e de really pain me say na our government de do dis things to us, dem go leave where Nigerian problems de, come de destabilize people legitimate sources of income. I know say crypto business don come to stay for Nigeria, we na wise people, we must always find a way to do our businesses and survive.

With all these moves by the FG against crypto exchange, I think there is a hidden agenda the FG is pursuing to actualize. Let's not be surprised that at the end of the whole drama, the Federal Government would like to introduce an exchange app that Nigerians will use to transact their USDT to naira.

Our government knows how much is been made from P2P trade. Them, it will be ideal and huge business for them if they succeed in stopping the P2P trade on exchanges and come up with theirs(exchange trade app) so that they can generate revenues in that area.

Listen to the words of our president below. What can you deduct from this?

Yeah buddy I see that Due to recent regulatory developments, access to popular cryptocurrency exchanges like Binance, Kraken, and Coinbase may be restricted in Nigeria. I don't know if that was the reason behind kucion restricting naria from their wallet now removing P2P I don't even know.what think of all this restriction is really much and most of us might start thinking other you all Nigerian youth with the way they handle their own issue it is really alarming I don't even where the country is actually driving to P2P has actually been one of the easiest meant to sell of your cryptocurrency but today it is not more... Which way Nigeria???

You haven't seen anything yet, even if the government will come up with its own platforms to trade the tax will not be nice, is this even the solution?

These exchanges are not even decentralised exchanges why won't the p2p service get destroyed ? It is obvious nah.

The solution will be a no man's land Dex exchange that deals with only P2P, no team to approach, no email to send letters to, etc, this is the only way we can be saved.

This news could have been a surprise to us all but after what they did to Binance and OKX, we should expect that they’ll come for all other exchanges that allow Nigeria p2p on their platforms. I saw a news today on social media where the EFCC chairman was talking about how cryptocurrency and p2p platforms are being used as a means to finance terrorism and all other illegal acts in the country.

Terrorism have been in existence for years no doubt about that, but making it look like cryptocurrency is the only means this terrorist used to do their monetary operations is what I don’t understand. He also said cryptocurrency is being used for money laundering which most of the money laundering that have been happening are from government officials, why not clamp on them and free the normal Nigeria that is finding a means of livelihood through this p2p exchange platforms, this is too harsh for Nigerians to be honest. I know they’ll come for other exchanges but one thing is for sure, they can never stop p2p operation in Nigeria but only stop those exchanges from offering it.

They’ll come for all other exchanges and we are all expecting that at the moment now. After all this steps they’ve taken, we have not seen any appreciation in naira against dollar, will the fight still continue with cryptocurrencies or they’ll go through another means which they knew the right means to use to tackle this all along.

That is not a glitch , that is absolutely a shutdown of kucoin. First I saw the news online I thought it was a joke so I decided to go and check my kucoin app, low and bellow the news was actually correct. Although initially the buy and sell other was showing but now it is no longer showing again that means they have lose it down. Though I am still yet to figure out way to trade in other exchange. When the time comes we would know how to do it. But if I find an endless way, I will let you guys know but not in this forum because there are spy everywhere to track people down.

Their application will be the last resort, because so long as na crypto dey involved, senior men go find alternatives share the info reach us, way must dey aside the any government application wen dem go just like introduce.

It is bad and wicked thing to increase the tax on people when you have not made an attempt to help increase what they earn. Government wan squeeze people neck.

I'm beginning to suspect that Nigerian government has issued order to these major exchanges to quit the trading of NGN/USD in their various platforms and they complied with a deadline. Seeing major exchanges removing NGN on their platforms one after the other is very abnormal and I'm now convinced that something fishy is going on behind the scene.

This is the kind of result you get when ignorant people are being given the power to pilot the activities and affairs of the state. Some weeks back, one government officials opined that P2P should be scrapped in Nigeria because that is the reason for our naira devaluation. It's a shame and embarrassing that our government is occupied by people with shallow minds.

By now, they should have realized that this has nothing to do with crypto or P2P but it's a norms in this country to focus on delicate issues than major issues which requires utmost attention. This is propaganda from government and it won't solve any problem other than making naira more valueless. I sensed Misplacement of priorities at it peak!

Omo me no go lie oo, I actually taught this whole matter will die off but looking at the way things are going, It seems Nigerian government really wan blame cryptocurrency for the fall of their naira whereas dem know within dem selves say na dem be the whole cause of everything. If dem wan really make the naira strong then make dem first of all ban the use of dollars itself from the country so that even the government officials dem self go get no option but to see the idiotic move they are taking towards making naira strong.

To be frank, I hate this news but I have not been a fan of Kucoin after they changed their TOS last year but anyway we will continue to strive.
Come to think of it, this is the only way government can make ignorant people believe they are trying their best, it's obvious there are still those who think crypto currency is fraudulent base on the said BTC boys which are fraudsters though this belief is slowly dying down while others who may be planning to venture into crypto currency except being enlightened will think Cryptocurrency is banned in Nigeria which is far from it.
Government is against crypto currency is obvious, there's nothing they will say that will make us believe they actually support this.

Yeah they're more exchange. But the naira isn't coming down lol..so why the baseless fight against P2P?

Why does this sound like I'm the only person affected by this news? You said and I quote "You haven't seen anything yet? Did you see where I said I don't have an alternative ways to trade fiat with my coins or you are angry that government is dragging down the p2p in the popular exchanges. Well, I'm happy to tell you that this is a direction from SEC chairman and this will not stop until they see the end of it all and this will definitely affect the legitimate traders and most investors.


Decentralized p2p in Nigeria? Can you help us with one, I believe if there is one most of the people angry about this wouldn't even send what the government is doing but there is none. It's actual something anyone could create but if the government want to clamp it down, the server is what they need to locate and confiscate the domain and beside, Nigerians don't trust anything Nigeria create because of lack of trust within us.

This is no more a problem to we the crypt enthusiast. The government have done so much and they wont rest till they eliminate every way Nigerians have been using to operate in that area. Only one thing is certain that they will get tired and forget about all this fruitless actions. Soon everyone will forget about what is happening and focus on themselves, the government has a hidden agenda based on their actions which they are using to blind the eyes of the youth. Surely their plans would never work out, we will surely have a way.

I have this question for Nigeria government, why fight crypto in Nigeria when you have other priorities to persuade? It's really a struggle because everything turns up side down in Nigeria and thats doesn't send out good signal. The Nigeria government at work again. This current administration of government is simply the worst and I must say, they're determined to ruled out all form of P2P on crypto exchange that has to do with the naira.

Someone mentioned the govt has an hidden agenda and won't be surprised to see them bring up their own P2P trading system. Thinking about it I think it may be true ahah. Anyways till then they're still good platforms that has P2P running. Someone could suggest some and you may check them out..

Na those of us here wey supported dis govment during d elections I wan even read their own side of dis whole thing first. Wen we dey talk sey dis govment nor go good for owa bodi dem think sey we be haters. Owa people sey na d smell of fart dem dey take know d taste of shit. Wen dat memo banning some exchanges leaked, CBN rushed deny am as fake news but we see as e dey play now. I know sey na one afta d other dem go take block P2P on all major exchanges

Shey we dey see am now? Dis administration won't stop until dem sqeeze dis nation to near death. The main issue of security and production dey there for dem to tackle but dem leave am dey chase wetin nor loss.

With this experience so far from the current administration, upon after making campaign promises mostly around the subject of cryptocurrency, it makes me wonder if Donald Trump who is currently running for president of United States, won't get to do same if peradventure, he gets elected and is expected to fulfill his promise of supporting cryptocurrency in the country.

It's very depressing to see the government hell bent on frustrating new initiatives mostly as concerns cryptocurrency advancement in the country, all because they want money from the exchanges and want to keep tabs on the poorer citizens who have no way to be financially dependent.

Removing Naira from P2p on any exchange platform won't stop the Naira from losing value as it is already doing. It is unless we as the citizens decide to use Naira instead of dollar for both international and local trade and payments for transactions, that's when the demand for Naira will rise this leading to it having value.

The US is a better structured country. Trump nor go fit try am and go free. There, leaders dey dey careful wit wetin dem dey talk because d citizens go hold dem accountable. Naija na a different case where money bags get mouth and dey form skoraw.

D main aim sef fit to nor be d tax. The ones wey dem dey get, wetin dem dey do with d money? E fit be sey na just to cripple the financial independence of citizens so dey can always bow dem at every call. Una fit call am conspiracy theory but na d way I see am. Which other way persin fit explain a govment wey dey try destroy its people financially if not be dat.

It's no longer news knowing that the government trying all they could do to make sure they seriously fight against dollars that is affecting the fall of NGN. We know that whenever they noticed a certain population toward a particular exchange they works towards on putting it to an end, and of course these government agent has an agency whom is trading for them as well.

After they succeeded pulling out their holdings they would report the particular exchange within few weeks or so the exchange would be shut down like, they would delist Nigerian Naira from the exchange. But one thing for sure is that after they fight and they couldn't succeed they will end up allowing the youths to have their ways typical example is what happened during endsars protects.

Seen this on X posted last week stating the SEC in Nigeria are looking to ban all P2P trading.
https://talkimg.com/images/2024/05/16/1EsjC.jpeg
https://twitter.com/BTCTN/status/1788216533841248259

So I would beg to guess they started already with these letters to their Kucoin customers about the delisting of it's own currency on their platform.

It is very obvious that crypto enthusiast didn't do anything wrong, what we all did is to be educated technologically, lets not forget that our government doesn't want to hear that the youths shift attention from politics, they always want to use us to perpetrate there evil plans and it seems they youth has understand that with our government their future is not guaranteed, so because of this fact many youths has decided to improve themselves in this innovation called Bitcoin in other to make their future a good one and the government knows the risk ahead so they decided to frustrate the means, you will agree with me that it is very rare to see any young person in nigeria talking about governmet job again, many nigerian youths has moved on to tech innovations not only bitcoin investment but forex trading too and this is because they do not beleive in our government any longer, the discouragement will continue by the government but lets not allow it to deter us from learning more to enhance our skills in tech because there are more things to profit than being distrated with action that has solution.

Yes I feel you on that guy, has in I sometimes wonder 🤔 that the government can't be doing this without having a plan of their own sha,for now me dey with Bitget I have been using their P2P for sometime now it quite reliable you fit check them out

I was on a discourse with some of our country men a few weeks ago and they were saying Government should bring regulations rather than this boycotting they are currently doing to these platforms. It's interesting because if regulations come, most of the privilege that Nigerians have accessed in the past, airdrops, job opportunities, exchanges, etc, will want to distant themselves from Nigerians if the regulations are blurry like that of the US, no one will want to include Nigerians in anything.

The problem with decentralized p2p you've mentioned is that, there are some many features that centralized ones provide that decentralized ones won't have. For instead, there needs to be some sort of agents for disputes because there would always be need for such since some p2p traders move mad sometimes.

Their agenda is just to stop everything about cryptocurrency in the country but they do not know how to come out boldly to do it. They know any step coming out to stop cryptocurrency the youth may react which can cause crisis in the country that is why they are suspending cryptocurrency gradually. They know they have not provide any job for the youth and cryptocurrency is what many youth engage themselves into. The problem we are facing in this country is our leaders , they are very insensitive in their reasons. In this hard economy that their are no jobs , no opportunity and people who are trying to create income for themselves and they are trying to just frustrate people.

Will they write the same warning to all available exchanges, will they have the economy clampdown fixed through all these, am just afraid if this is not going to set another means of getting the whole challenges been escalated, something from my mind is saying that this year, naira will record #2,000 per $1 if they are not careful, most of the politicians are having foreign investments, trading have always been, no government plan towards increasing the GDP of the country, instead they are busy chasing after trading platforms.

Nigerian government na true definition of hypocrites.Could you imagine na these popular p2p exchanges na dem dey use trade their foreign exchange.Person of President Tinubu that man dey deal on dollar so if dem remove NGN for all p2p exchanges dem go regret am because how dem wan take trade their foreign exchanges.We thank God say no be Kucoin be the only p2p exchange,when them ban NGN for binance p2p we go for Kucoin now wey dem don suspend Kucoin there are other safe exchanges where we fit trade our coin,there's always gonna be an alternative.

Already when I hard that Nigeria government have stop Binance operation in Nigeria I knew that the next one is going to be kucoin because they didn't want to see the progress of the youths in this country, they just want the youth to surfer but God go shame them because new mater how they do even if them like make them stop the whole exchange for Nigeria but will know go give up on Bitcoin, will must look for solution because Bitcoin na really good blessing for our youths.

Provided say na centralized exchange wey we dey use, we no get choice as the governments go dey attack dem as dem get to know about them. Governments dem get spy among us wey dey update them on the next exchange wey people dey use dey sell their Bitcoin or usdt to Naira. Scammers go chop Nigerians plenty this periods because alot of newbie wey no understand how some platform dey work go fall victim to scams. E go just better to use local P2P merchants if you get a trusted one than to dey move from one centralized exchange to another because this exchanges fit crash too and them go close with our money


Spot wallets are exchange wallets and that is a wrong approach to hodling crypto. Converting our crypto to usdt no also makes sense unless you wan invest for dollars based on how you dey see Naira dey misbehave but still when you dey invest in crypto wey dey in USD, you dun still invest in dollars because when you want convert your money to Naira na the current Naira /dollars market price na wetin you go use. It's better you hold your Bitcoin for non constodial wallets and keep hodling then you fit sell anytime wey you wan sell with the exchanges wey go still dey allow Naira trading or use local merchants.

Obviously, Nigeria would remain the same because it is not the crypto platforms that have affected the economy. Even if the Naira became balance i the foreign exchange there will be inflation in the country and the reason is because the problem is not in the government only it has infected the entire society. Everybody feeds from the weakness of the other. No real friendships and love if they are not benefitting from each other. One must have something to offer before they can be seen as an individual ion the country.

I pray for my country each day but i pray for every individual in it more. If eventually the country has been restored from the crisis and problems, we do not have individuals with the right mindset to manage that change which means it will still fall to the ground again.

Na how to get trusted local P2P merchant for naija but how person wan take confirm their authenticity, we know of plenty P2P platforms wey been don really make waves for naija as one of the best platforms but today, them no dey again.

Like you talk, even some people wey get these platforms go fit see this as opportunity to take scam some naive people them, since them now know say them no get option and when them see some kyn money wey go enter their system, them go just shut am down or release important information to person wey go enable am to hack the system make e no be say the fault from them so that nobody go accuse them. Na these kyn things we dey see everyday and because of that, even when we see legit ones, we go dey fear to work with them.

The best thing na just fyn better DEX wey dey reputable and dey support P2P, at least person go know say government no fit get access to them or influence them easily like that.
Or better still, find trusted person wey dey outside Naija, even if na the least African country, wey go dey help you dey trade ya coins dey send the money for you via bank transfers. At least that one go dey even better and safer than to dey use these CEXs or P2P platforms. Until this whole government palaba subside, cos I know say very soon, this whole gra gra go end.

me self think say the matter go die untill i see kucoin own and okx the matter just they shocking to me. i they reason say them wan comot all the p2p for all exchanges and them done they do am one after the other. them just they look for ways to regulate crypto and the thing no go work make them no even they reason that kind thing. them they feel say na crypto the increase dollar against naira but very soon there solution go create more problems. and if them ban the use of dollar the matter go worst even for our economy because if you look the whole thing how foreign reserve na dollar they inside. so  there is no way they can stop the usage of dollar and as them they try stop this things them just wan increase crime. you did not create opportunity but you they cause wahala with crypto the end result no go good sha.