FX CRISIS: Opay, palmpay other fin tech barned from registering new customers

[Churchillvv]

Omo this Naija crypto and forex crisis nor be small thing oo government just de close ways way people fit take de do crypto and forex transaction. On top say the matter no sharp e de kindof painful as many Naija people de way dis crypto and forex of a thing na their main source of money. And as dis matter de sup so e go come make am de difficult for them to de make money.

I First de hear d recent warning way all the micro finance de give like de palmpay, opay and kuda. But as of today when I take open my opay the thing break my heart to see say government Dem don still warn our mobile banking apps about crypto and forex trade.

U still dey surprise for the wey government dey use the country and it's citizens dey play? U shouldn't be na abi you dey aware of the similar decision made by the formal government? It's just a political way of moving the blame or problem from it's initial place to another place inorder to convince the international or the masses that they are trying.

If it's banning they will ban whatever that crosses their path as long as they have to protect their selfish interest. Unfortunately crypto and Forex happens to be an international battle for the governments so the master mind behind all this things dey very brilliant and versatile with all the crypto and Forex matters wey dey happen internationally so him just captive on the same issues to cover up the cause of inflation which is obviously mismanagement of funds and improper allocation of funds.

Have you seen the new loan scheme that the Federal government has approved for over 200bn naira to be spent for whatsoever the call it. Brother I will tell you that it's another strategy to bankrupt the economy the more then using that as an excuse to say they feed the poor masses.

At the end even if they ban everything in the crypto or Forex space we Nigerian youths will still find a solution to it. It's not the first time nor will it be the last time as the country isn't heading any way forward.

[Mr Reporter]

I have just used Opay now now

[Davidvictorson]

My view on this :
Plans are not going quite well on crypto exchange wallets
Now there's a switch to to some particular set of banks,
Sooner they will start altering our privacy checking  transaction and lot more ...
They forgot there are some things that need to be stabilized apart from the dollar, they kept doing things blindly with no one to correct  them or maybe they are not just taking corrections.

What will be their next target?? Telecoms?? Lol.

Their next target is You, Me, Us.

We are their next target. And they are coming for us. Their goal is to eventually catch one person and make that person a scapegoat for all to see. And that person is not going to be a fish but a whale. That would send cold down the spines of all Nigerian crypto enthusiast.

They are going to do what the US does. Like the DOJ that has seized Bitcoins. They'll seize the Bitcoin of a Nigerian Bitcoin whale and auction it off. While they throw that person in prison.

Note that the scapegoat will not be from the Northern part of Nigeria. Nah, they don't touch those ones because it is like playing with fire. Rather, they'll find someone from the south-south, south-east, South-west. You already know why.

[Cryptomultiplier]

Omo this Naija crypto and forex crisis nor be small thing oo government just de close ways way people fit take de do crypto and forex transaction. On top say the matter no sharp e de kindof painful as many Naija people de way dis crypto and forex of a thing na their main source of money. And as dis matter de sup so e go come make am de difficult for them to de make money.

I First de hear d recent warning way all the micro finance de give like de palmpay, opay and kuda. But as of today when I take open my opay the thing break my heart to see say government Dem don still warn our mobile banking apps about crypto and forex trade.

I been think say na only me get the memo o, until I just breeze in now com confirm say truly, this 9ja board dey very updated and concise on the things wey dey happen for this we country.
See the notification na make una confirm am, because na small small government don take control of Fintech o, first them request for NIMC of every customer else na penalty go follow and now, their next target na cryptocurrency and the decentralized system wey Dem don begin to try wan regulate or discourage people from indulging in.

[Hewlet]

Omo this Naija crypto and forex crisis nor be small thing oo government just de close ways way people fit take de do crypto and forex transaction. On top say the matter no sharp e de kindof painful as many Naija people de way dis crypto and forex of a thing na their main source of money. And as dis matter de sup so e go come make am de difficult for them to de make money.

I First de hear d recent warning way all the micro finance de give like de palmpay, opay and kuda. But as of today when I take open my opay the thing break my heart to see say government Dem don still warn our mobile banking apps about crypto and forex trade.

I been think say na only me get the memo o, until I just breeze in now com confirm say truly, this 9ja board dey very updated and concise on the things wey dey happen for this we country.
See the notification na make una confirm am, because na small small government don take control of Fintech o, first them request for NIMC of every customer else na penalty go follow and now, their next target na cryptocurrency and the decentralized system wey Dem don begin to try wan regulate or discourage people from indulging in.

to be in a safer side, it's not advisable to leave your money in those fin tech apps at the moment. This is just an attack that wouldn't last too long before they will eventually know that they are targeting the wrong thing and forget about the crypto sector. For as much as I know, fin tech companies aren't decentralized and so they are always bent to be subject to government regulations in some ways and as long as we would need them while converting our crypto asset to fiat, such policies will definitely have effect on us but the best you can do is to ensure that your funds are safe wherever they aee so if for any reason the whole thing escalates, the worse thing they will most likely want to do is to make freeze your account but if your money isn't in those apps, you know that even if they successfully freez your account you don't have any issue at all since your money isn't affected.

As long as the dollar is still gaining and as long as thier is a high possibility of the dollar going above N1,500 within a short space of time, we can't assume the federal government would back down on thier attack on this crypto sector but let's just be positive that it doesn't get to the point when they will start checking people's phone to know if you have accounts that's used in engaging in crypto transactions that will technically mean that they are moving towards an outright ban of the cryptocurrency ecosystem in Nigeria.

[Obim34]

My view on this :
Plans are not going quite well on crypto exchange wallets
Now there's a switch to to some particular set of banks,
Sooner they will start altering our privacy checking  transaction and lot more ...
They forgot there are some things that need to be stabilized apart from the dollar, they kept doing things blindly with no one to correct  them or maybe they are not just taking corrections.

What will be their next target?? Telecoms?? Lol.

Their next target is You, Me, Us.

We are their next target. And they are coming for us. Their goal is to eventually catch one person and make that person a scapegoat for all to see. And that person is not going to be a fish but a whale. That would send cold down the spines of all Nigerian crypto enthusiast.

They are going to do what the US does. Like the DOJ that has seized Bitcoins. They'll seize the Bitcoin of a Nigerian Bitcoin whale and auction it off. While they throw that person in prison.

Note that the scapegoat will not be from the Northern part of Nigeria. Nah, they don't touch those ones because it is like playing with fire. Rather, they'll find someone from the south-south, south-east, South-west. You already know why.

Indirectly already we have been the target, in a way or the other most of us have been suffering from their very actions, from the P2P matter to the one we are facing now. These Fintech banks is the easiest, fastest and safest means to trade, imagine waiting whole 30 mins to an hour just to confirm a P2P sell order before releasing a person assets, would that person be patient enough.

This whole thing the government is doing is targeted to a final point, they are the government and I see no reason why they have to beat around the bush all this while,  suffering us at first then still hit on their target.