Red flag worlds for crypto p2p

[Wiwo]

My people first make I congratulate all of us, for how God have being protecting us from becoming victims of bad policy decisions of government,  because I haven't read any where in the localboard that any of our members bank accounts is flaged for dealing in cryptocurrencies,  despite our active involvement in the industry on a global scale.

I say make I update una about recent developments as e concerned us and how we take the do our p2p,as we know say government don put eye for this matter of cryptocurrencies for we country a d now them done know say cryptocurrency p2p traders no the normally use crypto related words to avoid flagging of account since the first battle start in 2020 so the have resolved into adapting some global bank references mechanism which is simple.

Update
1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

2: use words that make a meaning some time you can put any sentence that make the transactions real pointing to purpose of funds, but never use crypto related or mentioned trade in your sentences.

Good Luck

[Zanab247]

My people first make I congratulate all of us, for how God have being protecting us from becoming victims of bad policy decisions of government,  because I haven't read any where in the localboard that any of our members bank accounts is flaged for dealing in cryptocurrencies,  despite our active involvement in the industry on a global scale.

This forum has impacted many Naija crypto users, which will b very difficult for any members here to fall victims to Naija police or EFCC agencies because every single plan dey take to catch crypto users in dis forum, dey will not catch anybody from dis forum which is d grace dat is working for us here.

I heard dat d EFCC agencies has started trading in d crypto market to fish out d Naija crypto traders, but d tactics link out on social media and d users name of d EFCC on crypto P2P market, which no one has fall victims to them in dis forum, because d hand of God is upon Naija local board users not to fall into d hands of EFCC agencies.

2: use words that make a meaning some time you can put any sentence that make the transactions real pointing to purpose of funds, but never use crypto related or mentioned trade in your sentences.
Good Luck

I guess many people here no d kind words to use when carry out p2p transaction, I believe newbies has learned something new here today because dey are d ones dat use to do strange things dat will expose them as crypto users.

[Marykeller]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty. It's never a must, one must have a transaction reference when making inter-bank transaction. In all my bank transactions, I haven't for once stated a reference why sending money to someone. Although I have for once encountered someone(a newbie) sending money to me, referring to it by writing BTC. It took two days before the money entered my bank account. Nothing, I think happened to the person account and mine too(don't know why) because we are still receiving and sending money till date.

The picture of the transaction below

[Wiwo]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty.

Not achievable in all cases, some bank won't process your transactions without a reference,  e.g Kuda microfinance bank won't process if there is no reference.

[Marykeller]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty.

Not achievable in all cases, some bank won't process your transactions without a reference,  e.g Kuda microfinance bank won't process if there is no reference.

That's for Kuda. I am sure that banks like Access Bank, Union Bank FCMB, UBA Bank, Opay, and First Bank. it's not certain for their customers to state their remarks of sending money before they could have their money delivered. Reference is not that necessary. It's optional not mandatory

[Orpichukwu]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty.

Not achievable in all cases, some bank won't process your transactions without a reference,  e.g Kuda microfinance bank won't process if there is no reference.

That's for Kuda. I am sure that banks like Access Bank, Union Bank FCMB, UBA Bank, Opay, and First Bank. it's not certain for their customers to state their remarks of sending money before they could have their money delivered. Reference is not that necessary. It's optional not mandatory

Even when the option is made optional, keeping your transaction reference blank is always not advisable, especially for someone who carries out frequent transactions.
 
It's easier for such transactions to be flagged for anything because you did not give the bank a hint of what the transaction is all about.
 
For big transactions, I use references like land purchases, payments for building materials, and the rest of them just to be on the safer side.

[Mate2237]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty.

Not achievable in all cases, some bank won't process your transactions without a reference,  e.g Kuda microfinance bank won't process if there is no reference.

If there asked for reference before they will approve the transaction then dat one na small thing na. Na to write business or school fees or any other remark for them and process your transaction leave. But for the once I have seen, there is no reference request and the once that ask for the remark, I left it blank and continue my transaction. And only few MFBs are doing that rubbish Opay e no dey do am and I have not seen it in Commercial banks.

[CryptopreneurBrainboss]

1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

Let me put some emphasis on this. The use of abbreviation can be mistaken as a coin name because TGIF wey be thank God is Friday normally fit be a name of an altcoin (memecoin to be precise) wey you no know and the banks can flag that transactions as crypto related which will be left for you to prove it wasn't crypto related but you no go get any proof and na from their your account/money dun go. Instead of using abbreviations just leave the space blank for the banks apps wey go allow you do transactions without filling in that space and for those wey no go allow you, fill in sometimes that can be backed if the need arises like Money for shopping/flexing etc

Another thing wey you fit dey do na to the do big transactions ending of the month or beginning of the month so money wey dey come into your account fit dey like monthly salary and banks no go too reason your matter but when you dey do large transactions frequently, dem fit call you for physical verification of address just as Opay dun dey call their customers to physically verify their address and from there, who knows what is next as dem fit come meet you to prove your source of wealth or the business that you're into that is making you process such large transactions and if you can't prove it has nothing to do with crypto/forex trading fit be wahala because person no just know where this country is heading.

[Felicity_Tide]

Update
1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

2: use words that make a meaning some time you can put any sentence that make the transactions real pointing to purpose of funds, but never use crypto related or mentioned trade in your sentences.

Thanks for the update boss. At least, no body go take say "I didn't know". The government no dey mess around at all, as them instruct banks and other financial platforms to do this ehnn, those ones go dey monitor transactions anyhow. Make God no let us see bad thing ooh.

If there asked for reference before they will approve the transaction then dat one na small thing na. Na to write business or school fees or any other remark for them and process your transaction leave. But for the once I have seen, there is no reference request and the once that ask for the remark, I left it blank and continue my transaction. And only few MFBs are doing that rubbish Opay e no dey do am and I have not seen it in Commercial banks.

This one no be problem boss. Na Naija we be, so we suppose overcome this kind wahala as so many strategies dey on ground. You fit even still mention "fowl feed" or all other animal related feed since animal farmers dey spend big money for feed. But na Opay me dey use sha, so I never too dey bothered.

Another thing wey you fit dey do na to the do big transactions ending of the month or beginning of the month so money wey dey come into your account fit dey like monthly salary and banks no go too reason your matter

This one wey u talk boss make sense. Monthly transactions make sense with transaction reference of "salary". But man still gat dey guided on the amount wey em wan transfer, as no be every body go wan transfer around 300-500K enter platforms like Opay, Palmpay, Kuda, etc. Na watin this operators fit still reason.

[EL MOHA]

Even when the option is made optional, keeping your transaction reference blank is always not advisable, especially for someone who carries out frequent transactions.
 
It's easier for such transactions to be flagged for anything because you did not give the bank a hint of what the transaction is all about.
 
For big transactions, I use references like land purchases, payments for building materials, and the rest of them just to be on the safer side.

You don’t need to add references to send money to any banks and the banks too do not have the right to know the  purpose of sending the money. The reference is just a space to signified what you’re sending the money and this is personally choice to the receiver.

Banks wouldn’t even just flag accounts for not using the reference, my honest opinion has always been if you are someone who doesn’t use reference before in your transactions, it will be better to stick to the method one has been using in the past to avoid the change as of now.

The issue with reference is you need to be consistent on the item you list there many people get carry away that they are not consistent about a certain or specific product they use. Using too many products to me is what will even lead to more suspicion

[Jaycoinz]

Nevertheless, don't enter any transaction reference when making any crypto related transactions. leave the transaction reference empty.

Not achievable in all cases, some bank won't process your transactions without a reference,  e.g Kuda microfinance bank won't process if there is no reference.

That's for Kuda. I am sure that banks like Access Bank, Union Bank FCMB, UBA Bank, Opay, and First Bank. it's not certain for their customers to state their remarks of sending money before they could have their money delivered. Reference is not that necessary. It's optional not mandatory

Yeah that's true, reference I believe it's not a mandatory feature in order for you to actually make a transaction or for even not a means to declining your transaction and I know this because I actually do a lot of transaction  because of the nature of business I do and in all  transaction I carryout there is no one of them that has been mandatory of the need for me to attached that reference statement.

[Uhwuchukwu53]

1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

Another thing wey you fit dey do na to the do big transactions ending of the month or beginning of the month so money wey dey come into your account fit dey like monthly salary and banks no go too reason your matter but when you dey do large transactions frequently, dem fit call you for physical verification of address just as Opay dun dey call their customers to physically verify their address and from there, who knows what is next as dem fit come meet you to prove your source of wealth or the business that you're into that is making you process such large transactions and if you can't prove it has nothing to do with crypto/forex trading fit be wahala because person no just know where this country is heading.

This your point here clear pass mirror, church people always they quote there bible saying let us hear the conclusion of the whole matter just as you said monthly or first week of the month withdrawal is the solution as that will cut down suspicious money entering into account as most of our worker salary always come in within this period of time without stressing the whole issue this forum has taught allot of smartness and wiseness including any wisdom that can be learned that is why it's always advisable for newbies not to jump into something they have no knowledge about without learning , as this is usually the first key in the forum to unlock anything that may become challenges, I  know for those that has been reading post in the forum it's hard to easily fall prey because all the ideas here is enough to escape from been a victim .

[Rruchi man]

My people first make I congratulate all of us, for how God have being protecting us from becoming victims of bad policy decisions of government,  because I haven't read anywhere where in the localboard that any of our members bank accounts is flaged for dealing in cryptocurrencies,  despite our active involvement in the industry on a global scale.

I think the banks are also not too cooperative with the CBN on this because they can easily demand every customer to input a valid description for every transaction one makes on their app before it is approved, but they have ignored this and allowed the unreasonable transaction details we put to deceive them. It is not that we are too smart; most of the banks are just playing dumb and will mostly go after those who just try to be plain foolish and extremely stupid.

[Wiwo]

My people first make I congratulate all of us, for how God have being protecting us from becoming victims of bad policy decisions of government,  because I haven't read anywhere where in the localboard that any of our members bank accounts is flaged for dealing in cryptocurrencies,  despite our active involvement in the industry on a global scale.

I think the banks are also not too cooperative with the CBN on this because they can easily demand every customer to input a valid description for every transaction one makes on their app before it is approved, but they have ignored this and allowed the unreasonable transaction details we put to deceive them. It is not that we are too smart; most of the banks are just playing dumb and will mostly go after those who just try to be plain foolish and extremely stupid.

Very well said my man, if you have been actively following up with recent realities you will know that banks most especially the fin tech sector are after customers satisfaction and at that any time.e there is a need to sanctified the customer and better increased their revenue the best they look at things, but much more also we have to take note in some key factors to avoid,  which is why I created thus topic to discuss a number of things that can help satisfy both the government and you as an end user of cryptocurrencies and other digital virtual assets holder and the fiat financial system.

[Perfectbaby]

This one na something we don dey used to because government themselves dey vex onto say them no dey cut for all this cryptocurrency transaction and e dey pepper them for body like mad, wetin i go talk be say we go try develop our mean of trading especially since them don restricts many centralized exchanges wey dey offer p2p trade to we country due to say dem no get any percentage for most of the transaction, that is to say dem dey want something wey be say dem go begin task the citizens but as e no work for them dey do anyhow them want.

[HajiBagi]

Na to Dey careful this days to avoid red flag or banning your account, as government don put eyes for people wey Dey do cryptocurrency na to change the method of doing transaction’s because if you account don get red flag nothing you fit do again, people wey Dey do exchange sef get sense na unless the person wan implicate him self and want to enter trouble, before doing transaction whether na buy or and you wan use p2p you should know what you are going to put when you are going to send money to bank account, you can use any word like good or any word that did not concern the words of cryptocurrency to avoid being banned.

We all know how our Naija government Dey always take things serious and even if government no later take am serious the banks will take it serious because of people money wey them go steal and banned the account, na we Dey do each other for the country because we no want make each other progress and we like they chop on top of each other, my brothers make we just Dey careful no matter how e be because sometimes we fit forget but I pray make we never fall for their traps.

[Abbatty]

Update
1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

2: use words that make a meaning some time you can put any sentence that make the transactions real pointing to purpose of funds, but never use crypto related or mentioned trade in your sentences.

Thank you Op for reminding us about this. Government just de our neck about this crypto of a thing but God pass them we go still de survive de go. Government have asked banks to block any account that carries out any crypto transactions or virtual currency transactions which is not fair at all so banks don de trace any account wey trade crypto, when u put any word containing crypto terms they will block the account.

Good of you to point this out since these are what the banks use to identify accounts that trade cryptocurrencies, we can easily deceive them by not stating any crypto term in your transaction reference. No matter the transaction i carry out i also reference it to my daily needs like food, rent, utilities bills and other expenses. We de safe this way and there is no way they can be able to find out and block our accounts.

[DiMarxist]

Thanks for the information. Nigerian government just dey hunt innocent people to make money. Di best way now na di real p2p. But to see good person buy and sell nai be di Wahalla we go face. But base on say we know ourselves here we fit run here. And you tok say make no dey use any cryptocurrency related remarks and special characters. E good. Make we dey protect ourselves from di bad government.

[Odohu]

My people first make I congratulate all of us, for how God have being protecting us from becoming victims of bad policy decisions of government,  because I haven't read any where in the localboard that any of our members bank accounts is flaged for dealing in cryptocurrencies,  despite our active involvement in the industry on a global scale.

Of a truth it is indeed a thing to celebrate say we never see anybody for our local board wey our government flag him account cos of cryptocurrency. I know say our government dey work dey and night to frustrate the youths wey dey survive through cryptocurrency, them don already block plenty accounts of people but e be like people for this forum don already get the update as per how to avoid them government. I remember say the crackdown been serious under the last administration but we manage to survive am so I believe say we go also survive this one too.

I say make I update una about recent developments as e concerned us and how we take the do our p2p,as we know say government don put eye for this matter of cryptocurrencies for we country a d now them done know say cryptocurrency p2p traders no the normally use crypto related words to avoid flagging of account since the first battle start in 2020 so the have resolved into adapting some global bank references mechanism which is simple.

Update
1: never user characters like ***,  FKY or any other characters that doesn't have meaning in the transactions references if you do your account will be flaged for crypto transactions.

2: use words that make a meaning some time you can put any sentence that make the transactions real pointing to purpose of funds, but never use crypto related or mentioned trade in your sentences.

Good Luck

Thank you for this correct update. As e be like this, our government dey all out to eat what belong to Caesar and to reap where them no sow. So the best way to stay safe na to stay away from anything wey go drag attention come our side. When I dey do crypto-related transaction, me dey simply write the name of the recipient for the description. This way I no go answer question at all and attention no go enter the transaction.