Honestly the news came as a shock ,few months ago the approved the use of crypto currency and now the just woke up to ban crypto currency but the funny thing is that the don't understand crypto currency they feel it buying or saving money in your crypto account 😂 forgetting that they is existence of p2p trading and we are always ready to convert NGN to USDT at any point in time, but they main issue would be for people that kept their NGN in exchange site ( luno , partica etc ) that doesn't have p2p service.
Can you give us the link though? because as far as I know, the Central Banks of Nigeria has released statement from the past against crypto currency:
https://www.cbn.gov.ng/Out/2018/CCD/Press%20Release%20on%20Virtual%20Currencies.pdfVirtual Currencies not Legal Tender in Nigeria -CBNFurther to the circular issued by the Central Bank of Nigeria (CBN)on January 12, 2017, to Banks and other financialinstitutions on virtual currency operations in Nigeria,the Bank wishes to reiterate that cryptocurrenciessuchas Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, etc and Exchanges such as NairaEx are not licensed or regulated by theCBN. For the avoidance of doubt,dealers and investors in any kind of crypto currencyin Nigeria are not protected by law. Virtual currencies are traded in exchange platforms that are unregulated, all over the world. Consumers may therefore lose their money without any legal redress inthe event these exchangers collapse or close business. Members of the public are hereby warned that virtual currencies are not legal tender in Nigeria.Accordingly, we wish to caution all and sundry on the risksinherent in such activities.
But this is really weird though as Nigeria bitcoin community is one of most active in terms of crypto activities. Even in Google the rank first as the highest number of bitcoin searches around the world.
