One of the wrong statements about bitcoin again but from Nigerian EFCC Chairman

[CryptopreneurBrainboss]

Na many have been caught in the act already, what CryptopreneurBrainboss don't know is there are EFCC spies everywhere now, imagine people been paid to spy on other people in Nigeria, yes that's whats happening presently and saying I don't have anything to back this up is funny cos I'm from Nigeria and this happens around me so I know what I'm saying

So you're even a Nigerian and you're spreading this false information, do you know how many people you must have misinform with your accusations. I'm not saying there's no fraud ongoing by the youth in the country but I'm responding to the way you presented the accusation. You said majority, if I may ask how many youths are in Nigerian? It's a very small percentages that are in involve in this act and they're been portray by the media like it's majority.

We're already battling with the misinformation by the media, please don't add to it (I beg you). You see this thread right here will explain everything to you  everything in Nigeria is been manipulated by the government to make them look good while the citizens look bad. So you think this new initiative they're deploying on 1st of October don't have anything to do with enslaving the youths. Currently the youths (and citizens) were doing so well without the government and now they want to deprived them of that, they are intentionally spreading misinformation about bitcoin just so they can get them believing in the crab they're about to launch that won't even work.

Do Join the Nigerian community on this forum so we can enlightened you more and share ideas together. I'll be waiting for your introduction over there.

[CrossroadBTC]

Na many have been caught in the act already, what CryptopreneurBrainboss don't know is there are EFCC spies everywhere now, imagine people been paid to spy on other people in Nigeria, yes that's whats happening presently and saying I don't have anything to back this up is funny cos I'm from Nigeria and this happens around me so I know what I'm saying

So you're even a Nigerian and you're spreading this false information, do you know how many people you must have misinform with your accusations. I'm not saying there's no fraud ongoing by the youth in the country but I'm responding to the way you presented the accusation. You said majority, if I may ask how many youths are in Nigerian? It's a very small percentages that are in involve in this act and they're been portray by the media like it's majority.

We're already battling with the misinformation by the media, please don't add to it (I beg you). You see this thread right here will explain everything to you  everything in Nigeria is been manipulated by the government to make them look good while the citizens look bad. So you think this new initiative they're deploying on 1st of October don't have anything to do with enslaving the youths. Currently the youths (and citizens) were doing so well without the government and now they want to deprived them of that, they are intentionally spreading misinformation about bitcoin just so they can get them believing in the crab they're about to launch that won't even work.

Do Join the Nigerian community on this forum so we can enlightened you more and share ideas together. I'll be waiting for your introduction over there.

I'm still confused honestly because it's like you are trying to cover up for the youths in Nigeria, I'm living in Nigeria and all youths in my streets are into online scams and credit card frauds, the government isn't building fake news up but anyways I'm willing to drop this argument already, I will only do what I can to change this shameful curse that's tarnishing the image of Nigerians, only very few are ready to work hard and make money legally, God bless

[GeorgeJohn]

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I'm still confused honestly because it's like you are trying to cover up for the youths in Nigeria, I'm living in Nigeria and all youths in my streets are into online scams and credit card frauds, the government isn't building fake news up but anyways I'm willing to drop this argument already, I will only do what I can to change this shameful curse that's tarnishing the image of Nigerians, only very few are ready to work hard and make money legally, God bless

Before you condemn any nation i think you suppose to have evidence that will backdate your allegations, what's your sincere evidence to portray negativity or hate speech to full country, i think this statement of yours is trash because their is no reliable information or evidence that covers your point, it's absolutely bad to tag all youths of a country a scammer, at least indicate or you should show case your source of point, because no one can believe you in all ramifications of castigations of a Nation without prove.

[CryptopreneurBrainboss]

I'm still confused honestly because it's like you are trying to cover up for the youths in Nigeria, I'm living in Nigeria and all youths in my streets are into online scams and credit card frauds, the government isn't building fake news up but anyways I'm willing to drop this argument already, I will only do what I can to change this shameful curse that's tarnishing the image of Nigerians, only very few are ready to work hard and make money legally, God bless

I'm a youth and I'm not a scammer so are majority of youths in the country, this misconception of yours is what is causing most of the problem between the youth and the police in the country. The moment they see any young Nigerian doing well they tag them scammers. Do you know how many times I have been harass just because I'm a youth doing well for myself because I believe in this technology (currency) and invested when everyone was calling it a scam.

The youths in your street might be unproductive and as a result turn to scamming and other illegal activities for daily bread but you don't just use your street to judge everyone. How many youths are in your street compared to how many youths are all over Nigerian.

Yes we have scammers in the country and I have written about them many times but don't use the word majority when it isn't so. Besides the government are also contributing to this trend, if they have provided jobs as they were elected to do we won't be arguing about this as the youth would had been occupied doing something useful for themselves.

[ILuckyGuyI]

They say that people are using Bitcoin for money laundering. It is really true, there are people who are doing it. However, it is not a thing that is only seen for Bitcoin. People launder money with fiat currencies also. And I'm pretty sure that people have done this with fiat currencies much more than Bitcoin. But they still want to overlook this and just focus on Bitcoin. They aim to harm Bitcoin also by saying these things I think. But Bitcoin is not affected by these tricks.

[nakamura12]

Yes we have scammers in the country and I have written about them many times but don't use the word majority when it isn't so. Besides the government are also contributing to this trend, if they have provided jobs as they were elected to do we won't be arguing about this as the youth would had been occupied doing something useful for themselves.

Common mistakes made by everyone instead of using the correct term for it. It's true that there may be a scammer in a certain country and it doesn't mean all are scammers. Even in my country, there are scammers and I almost got scammed but I managed to out think them. I would agree with CryptopreneurBrainboss that using the word majority is not the best word to describe types of people. I'd rather say "SOME" which is more suitable/proper word to use. As what I know, CryptopreneurBrainboss is trusted.

[jrrsparkles]

The central bank of Nigeria (CBN) banned the use of cryptocurrencies in Nigeria this year on the 5th of February, later the CBN presendent says cryptocurrency's transactions are not legitimate, he meant Bitcoin and other crypto assets are used by criminals. The CBN want to try their best to make people to hold naira and set the pilot rollout for digital naira on the independent's day, Oct 1st, 2021. The CBN banned the decentralized cryptocurrencies like Bitcoin and have intention to mislead people to use digital niara which its price will be pegged with the Nigerian naira, the only difference between naira and e-naira is that e-naira will be more privacy depriving in design. Yet, Bitcoin transactions and other crypto transactions have been on the rise as Nigerians make use of P2P to bypass the CBN anti-crypto laws.

Physical criminals activities have increased in Nigeria, Boko Haram (one of the deadliest terrorists in the world) has been paid in naira by the Nigerian government before when Dapchi schoolgirls were kidnapped on 19 February 2018. So attracted bandits to kidnap kings and many other people in the country and demand for random which are all in naira. Kidnapping is now a business in Nigeria in which millions to billions of naira are lost to it annually, all the criminals are demanding for naira.

Nigerian is one of the poorest nation in the world if the country's wealth is divided by the average population of the same year. I was surprised the EFCC chairman, Abdulraheed Bawacould make this obvious wrong false statement about bitcoin and other cryptocurrencies just to be misleading the Nigerian citizens, he says Bitcoin, others pose danger to global economy which is obviously not true but totally wrong. In 2018, IMF report says crypto does not ‘pose risks’ to global finance.

Why would people holding public office would not just make appropriate research before taking anything to media, all to just mislead Nigerians for their upcoming e-naira next month while the value of naira has been depreciating right from its creation. €1 was equals to ₦2 when naira was created on 1 January 1973, but the value has been devaluing so far till this present time, now 1$ is equals to 410, €1 is now ₦567.50.

Never consider that your government is saying that they are doing something to save you when the circumstances are exact opposite to their promises, even after their banks banned the cryptocurrency the usage of cryptocurrencies are increasing a lot in the Nigeria using p2p platform especially for the trading purpose.

I don't think their CBDC project will succeed unless they make everyone fool and dump their shit into people mind that is what actually happened with such statements.

[oHnK]

Actually I am not so interested in the words of CBN. Although the business of prohibiting Crypto in Nigeria, it will not have a significant impact on the market. But what I want highlights is there is no point in the creation of Naira Digital, it is because the value depends on Fiat and then the adoption is still local. Inter-country transactions are much easier to use Crypton than any fiat. Not to mention the problem of sensitivity in inflation. After God Money or the money guaranteed by gold was replaced with Government Money or Fiat which is currently not having an underlying asset so there is no good hope for the economy other than depending on the authorities. After this community money or Crypto appears little hope for us to save our asset value because of its value's appreciation.

[dezoel]

What they are forgetting is that they can create their digital NIRA alongside Bitcoin, so banning Bitcoin as well is not really necessary. According to the news that I’ve read, when the Nigerian government banned Bitcoin it caused a lot of cryptocurrency and blockchain companies to depart from the country.

This is totally  bad, Because losing a sector as big as the blockchain industry is going to affect the country  economically. With that said, it doesn’t make any sense for them to ban Bitcoin because they won’t be able to stop people from making use of it. Instead of banning Bitcoin there should have found another reasonable way to follow up with it.