Bitcoin Forum

FG don pass law way recognize Bitcoin

So as we Dey round up the mouth of April, following the plenty kata kata way CBEX bring to our Nigerian people way plenty persons loss their investments, business money, loaned money and even money way them generate from property way them sell just to invest for CBEX. The thing don make FG to turn ear towards these kind of schemes to say no and even sef, them con Dey try look digital assets and cryptocurrencies way be Bitcoin amongst others to make sure say, Nigerian citizens Dey get am right.

Nigeria remains one of the top cryptocurrency innovative and adopting nation, even as the government never really open road say eh, make we Dey use am as we please. Our government stands no Dey ever Dey clear on this matter since them no ban am, neither them been really recognize am but, e be like all that one wan begin to change.

So, following update on digital assets on cryptocurrencies, FG don pass into law to recognize Bitcoin as securities. President Tinubu sign this act just last month for cryptocurrencies to Dey recognized.
You fit read more on this update for here:
https://www.forbes.com/sites/digital-assets/2025/04/30/nigerian-gov-passes-law-recognizing-bitcoin-as-a-security/

I really Dey happy to hear about this development for our country and e go be one way go encourage people way been Dey fear to welcome cryptocurrency and take up Bitcoin investments. Although, e pose certain wahala via say,

SEC go Dey look to control everything, especially at the exchange level and any cryptocurrency companies way Dey functional in Nigeria. Make we also no forget how this current government Dey wan tax gain commot inside everything but, even that one no be big matter shah.
Cryptocurrency na currency way be say, we Dey use enjoy privacy and being anonymous, among others benefits. If government Dey involved the way them want way be towards regulation, na em be say, we no go really Dey enjoy benefits way follow for the privacy side be that o. As exchanges go Dey leak information to authorities if no be watin them Dey do already.

Then again, how them wan take Dey classify undeclared or Bitcoin them way no run through recognized or licensed exchanges…?

Watin really be the possible benefits and
Challenges way this law fit bring or face as you see am?

Na the matter way I bring for una be this my people, make we talk am…

I would think for this type of news it would be more concrete if it’s coming from a Nigerian news outlet. I am not doubting the source but I haven’t read anything like this coming out of Nigerian news sources I still stand to be corrected on my stand.
Let’s be honest people are still going about with their bitcoin activities even before this news that is to shows that the Nigerian government can’t stop the growth of cryptocurrency in the country.

This wasn't the reason why the law was pass, the government has been looking for means to legalize cryptocurrency for the long time and small small them been dun they shift their view on cryptocurrency from being negative to positive and also looking for means to tax companies that they can tax to make some revenue from these companies them.

I no see any much difference this new law go make sha because e go take better time before we go begin they see some changes in the way people view Bitcoin in the country. Alot of news has always associated the industry with failed investment and scamming.

Wetin me just dey feel na say the government dey only find way them fit make money and by recognising Bitcoin, them dey open door for investment from the companies in the crypto sector to fit they tax them as this law is never in the support of the common man.

This tag on the news holds a positive posture of encouraging citizens who has been skeptic about their funds security if invested on Bitcoin since it is a decentralized financial system.
So even though the government has not considered holding it part of national economy treasures there (Bitcoin), it is sure that the move involving the president will render significant impacts wider the crypto currency in our own country Nigeria.

Such a good news and I am sensing the federal direction testing the water of Bitcoin potential values for a hedge against economy inflation and then considers legalizing it legal as tender.

Joy is coming 😁.


No the government never stopped anyone on individual motive to adopt Bitcoin for it self usage rather, they only imposed a ban policy on the governments institutions not to facilitate on any related Bitcoin and crypto transactions.
And where I will be in same like with you about talking about them not being straight forward about the decentralized finance is the fact they often lifts it ban and bans it again and unbanned again.

Although I think they are doing so while still on the testing mode of the Blockchain reliability.
Perhaps they have to be strict about it regulatory decisions because so that they don't key in influencing the public with encouragement to invest on Bitcoin when they have not really understood the potential reliability of it as leader they are.

Again, "Joy is coming" where Bitcoin will be will be legalized at every necessary sectors giving enthusiasts a more conveniences.

This is also my thoughts, the Nigerian government like many other government won't make any law that won't benefit them. The Nigerian government has seen that no matter what they do crypto-currency is always ahead of them now they are trying to accept it only just for their benefits.
There are a lot of Crypto-currency linked businesses, companies and organizations in Nigeria and placing a tax on Bitcoin activities will surely rack home good profit for the government, for me it is not becoming a case of if you can't beat them you join them and find a way on how it will benefit you and this is the vibe the Nigerian government is giving off.

Reading through this Post in the ops made me laugh out loud, because at some point you totally missed it and making look as if cbex was the reason why this law is past in the first, whereas it not so, many laws have been under ways for some Time as regards to Bitcoin and cryptocurrency adoptions in Nig and for a fact we have begun to see some policies in that directions, Many times the government a at attracting cryptocurrencies investors and companies but the mean aim is to take tax from them and a little bit of regulations thatost times never works.

The way awa president like tax as small pikin like sweet for mouth, I know say surely him go make am happen, so I no dey surprised by dis news. Finally, dem don see wetin dem stand to gain if dem recognize cryptocurrency for the country. Dem go collect big big money in the name of license fees from crypto operators to run their businesses in Nigeria and also dem go tax crypto users, so nah avenue to make money. This news dey good for the Nigerian crypto community, e really sweet for ears because e show say awa government go reduce the scrutiny on crypto.

Na true say this development no come to light due to the CBEX Ponzi scheme saga but na project when we government done the plan am since on how to use make money into government porse as investors and crypto industries go enter we Naija to operate. The only time I want to believe say Nigeria government done really sincere about cryptocurrency to function and legit currency with security for we Nigeria na when we no get problem with banks knowing say particular money when enter my account na through crypto I take make the money. Because na the opposite we the experience even in the middle of all these signatories into law.

I no sure say this development affect any thing. The thing be say Government are delusional people and you can't trust them. It's this government one part of agency will make announcement that something is working and another agency will wake up and says there is no such thing happening in the country and it's illegal and anyone found using with will face the law, this is why I don't take crypto news serious in this country, different mouth from government.

How many times has Nigerian government makes Bitcoin legal in Nigeria only for Central Bank to say they have ban and another government operations comes and say it's legal and they ar trying to work on blockchain adoption only for them to start going after centralized exchanges and staffs in Nigeria, this is why there is no development in this country, there is no uniformity in the government and that's why you shouldn't be taking this announcement serious.

And the thing be say, any crypto firm wey go dey launch go get money fast than other process companies, crypto companies generates income at a very high speed so fast to the point many eyes are going into developing and integrating ideas to start connecting to the blockchain industry.

Wetin I like about the industry be say, e dey open source where any company go just come up and integrate something that will make the flow of money possible, where the accumulatipn of transaction fees make such company wealthy so easy and fast.

The Nigerian government has long been on this crypto legalisation for quite a long time before this CBEX saga. It was not actually because of the scam saga that led the government to approve and legalise crypto operations in the country. If you ask me, I will tell you that the major focus while the approval is just for the government to get revenue from crypto transactions because they now know that there is a lot of money flowing through that channel after Binance made a statement on the financial flow from the nigeria p2p trade on the platform. Since that statement was made, that was the genesis of the crypto war in Nigeria between the government and Binance and its citizens. Let us watch how things go and see the aftermath of their crypto transaction approval in the country.

For this country, e go hard because a lot of start ups face so much challenges, so we shouldn't say that crypto firms will succeed so fast in such a hostile environment like Nigeria, although blockchain technology have so much potentials, but even at that we should always remember the Nigeria factor and how unfriendly their have been to cryptocurrency related services, who knows when the Money starts coming in, the government may term it as Money laundering and Force those companies to fold up just like what we have experienced in the past with other local exchange that tries to exploit the market.

The thing don long overdue but our government dey do yanga on top wetin no suppose take them time to deliberate on and sign make everywhere good for us.

For Nigeria to embrace crypto na very big step in a right direction to reduce over dependence on government. Education without skills in Nigeria na the root to struggle and suffering as most of our graduates dey very broke except the ones wey get practical skills.

The surerest way to thrive and become successful in Nigeria na to combine education with skills especially in the areas of digital currency because na the new shift and trend be that. Crypto currency, forex trading and related skills go unlock new opportunities for our youth if we can make use of them wisely. As government dey bow head gradually, make we begin dey leverage this potential to build a future for ourselves and generations to come. 

E no go change anything. Aything way this government dey do na to first benefit themselves. Even with the law, you no fit still use anything related to "crypto" as your description of your money transfer. If you do am, your account fit enter trouble.
Even the SEC see Bitcoin and crypto like scam and anybody wey dey involved in am na scam.


How many new sources in Nigeria are more reliable than Forbs? And how many of them tat are reliable will take something like crypto news are something they can report? If is not propaganda for the government, its mainly controversies that drive traffic.

Well for starters, nothing dey easy for this country especially anything that involves the government implementing a new policy.  And if you know your country well well then you supposed know say even if them implement a new law way supposed benefit or help Bitcoin development e no go just start off good like that because there are times when other law has been past but the government themselves fail at one point to observe this same laws.

I was thinking the same. I have searched for the news from different official outlets and I have not seen it on any reputable media channel as yet, when you compare that with the news of restrictions in use of cryptos they were published everywhere at the time and easily verifiable.

Even if it were true, I'll still advice crypto users to apply caution when trading or transacting, as an individual or a company.

News sabi waka the ones wey be true, some carry both truth and lie inside while sotl me na all lies. Na to look the source the news they come from, a video evidence they better than all this  fake blogged side in need of traffic.

The gist be say government want make the country crypto friendly, e good despite with no evidence yet but if say na true talk at least make dem start with the little things way matters like allowing CEX establish without suing them to court as per holding cases of negotiation. Binance matter done stay too long as case, simple tax negotiation but our people go dey demand more way go delay the agreement, as Binance hold like this with some often used ones, na in make all this ones way we dey use done begin get plenty of scammers.  Make government start from where we fit buy Bitcoin at ease without scammers trying to scam us, allow CEX operate.

Benefit way the law fit bring be say, some fit they bold enough now to say dem hold bitcoin or transact with Bitcoin no be like if you fall enter inside wahala with some kind government agents and you mention crypto nah double wahala you don enter so.

Another challenge way go they here way no go even be much challenge to most nah the type of interpretation people fit wan give the law, and how them go carry they tackle anybody way go wan break the law, for one side this one go be more of positive especially as them go use the opportunity regulate the crypto firms them way they the country.

Saw this update a while ago and it has to be the best news for people into crypto currency in Nigeria..for a very long time the government has made the use of crypto a scam and Bitcoin wasn't recognized in most parts of Nigeria..I'm not surprised at the sudden change, after doing a little check they must have seen that they are lots of futuristic potentials about Bitcoin.. however some people are saying that they only made Bitcoin and some other currencies so they can put all the money they embezzled into it.

That's literally what you will hear from people who don't know or literally understands what Bitcoin is or rather stands for. Because there is no way anybody can embezzle a money that has already been invested in Bitcoin and you holds the private key to that wallet without sharing it to third parties. Because I'm very sure the people behind such propaganda are always usually the government, in other to discourage people from investing in Bitcoin. But however, I'm happy everybody has got to understand that Bitcoin is real and has come to stay for good.

This is what we have been waiting for. Before now, they didn't see the benefit of cryptocurrency, but now they understand it and have seen the benefits. If they are accepting it because they want to benefit from it, then it is not bad. Other countries that are accepting cryptocurrency and adopting it as legal tender and establishing reserves in cryptocurrency are making these developments because they know there are good benefits to accepting cryptocurrency and Bitcoin. My only fear is that whatever our government decides concerning cryptocurrency, it should be well managed so that it can be productive.

Cryptocurrency is currently accepting almost the whole world Many coins, starting from Etherium, Benance and Bitcoin, are spreading around the world. But Bitcoin is the most talked about in all these coins Although the government has no permission about Bitcoin in Nigeria and no legal action is yet to be taken. But the people of Nigeria are accepting Bitcoin very well If the government wants to stop the people about Bitcoin.

I think Bitcoin will play an active role in providing a man's money The investment that a person has been operating in Bitcoin for 8-10 years will surely be able to meet a person's economic needs. I am saying from my real experience that a low -paying man is not financial before taking Bitcoin He was worried about his family but after receiving  Bitcoin, the tide of joy is  floating in it. He knows today a little investment will give me a high profit within 8-10 years that I will be financially self-sufficient in addition to meeting my family's economic needs.

It is good that the long-awaited approval of crypto transactions in our country was finally a dream come true, and I must commend the leadership for such insight and intervention.

We know that anything in our country can be tailored for multiple purposes, so I do not doubt what you have said because anything can happen. The idea of them putting their embezzlement in bitcoin is not far from the truth because they would like to have sole country over their assets as it is one of the functions of cryptocurrency and nobody can get hold of it except them but the truth is that from the transactions, they can be traced or tracked to their final destination as there are technology that can be able to do that and I believe more technology are been produced for that purposes.

Here's a link from a reputable Nigerian source:
https://businessday.ng/markets/article/nigeria-recognises-cryptocurrencies-as-securities-in-landmark-legal-shift/

The day op posted this news, I searched online and I saw that Businessday also reported it. I thought it could be breaking news and in time other reputable Nigerian media outlets like The Punch, Vanguard, This day, Premium Times etc, would also publish it on their websites, probably after verification. However, I'm surprised there are no reports from them yet. It gets me thinking if this info is credible because news of this magnitude should be reported by all popular Nigerian media houses by now.

I don talk dis same thing wey I wan repeat here for wan of awa threads like dat, and my yarn be sey make una nor loose guard on d matta come carry una whole bodi give dis politicians wey dey lead us. Tomorrow, dem fit talk odawise. No dey loose wit ur crypto dealings. No put anything cryptos for any P2P wey you dey do. Make bank nor go clamp down on una tomorrow. Dis govment na magic dem dey do.

You sabi sey awa govment na copy copy from the US. As dem don see greenlight from Donald Trump's govment on how supportive his administration go dey towards Bitcoin, Naija don rush join d queue of Bitcoin loving kontries. Funny indeed. Make we sha dey careful.

This na speculation, Federal Government nor go dey pass law like that. Nor be CBEX be the first Ponzi scheme to use usdt and crypto tay scam Nigerians. Which day CBEX happen wey e go be because of am nai go make federal government change their stance on bitcoin to a positive one. Even sef CBEX case na negative matter for where crypto dey.

I nor trust this government anyday, them be like snake. Na Wetin go benefit them and their private business them dey do.

This is a welcome development as  the issue of legalizing crypto currency was over due in the country I think that politics and interest has been the biggest challenge that has been hindering this bill so this will be a new chapter in the world of crypto currency in Nigeria because Nigeria is one country that is has the highest crypto currency adoption rates in the world so legalizing crypto was necessary because doing that will have a positive impact on the crypto community in the country.



One thing about Nigeria is that we are good in making laws but implementation is the problem so government should not stop at the level of passing laws but should take steps in investing in Bitcoin as a country this can be done by having a bitcoin reserves just like America and other countries are having as it will be a good one for the country

Dem just dey take that one deceive people so that dem go fit arrest those boyz wey wan live free ,Dem no dey trust naija government, dem fit just announce to catch people because this government no wan take eyes see sey the youths dem dey gradually get money, Dem no dey run after them and dem see sey money dey see sey them dey still make am, for me I no trust our naija government, e for beta make we still dey pipe low anywhere wey we dey.

Well, this matter fit de look like joke, but e carry seriousness full body well well. We know very well say this awa leaders/government de poss serious charges and tax/vat on us, almost on anything way relate to money transactions with all forms of bank wey de wi country, and the same thing go continue if dem come into the legal use of Bitcoin and exchanges as well. To me, I no sure say possible benefits go de to compare with the challenges we go face for the crypto community.

When Bitcoin and related crypto currencies never de generally accepted, we know say the anonymity no give us any issue, but now way we wan start to experience transparency, EFCC and CBN go start to put eye more into bank transactions, and this one go affect us in time to come, but I know say the smart people go get way out.

For me, I for prefer say exchanges no even come into the country, make we de use the normal foreign exchanges alone. This thing dem wan do na to continue their normal ways of restraining people from financial freedom, and I know say boys de wise up on daily basis for the internet.

It's simple, Bitcoin wins, Bitcoiners win, but FG lost. Upon their sakara for years, building panic in the minds of Bitcoiners. Till today, Some banks apps still warn that they will freeze the account if you deal with cryptocurrency. I guess they need to overhaul their system...lol That's the result of the government's folly, instead of gaining through crypto, they decided to make it their enemy. But in the end, we win! :D

They must have learned, but it's unfortunate they learned the hard way, I learned mine during the MMM scheme, all na Ponzi.