Is the Nigeria Central bank confusing its citizens?

[Om.monata]

I think they basically say, "Trading cryptocurrency isn't illegal, but violate our terms and conditions". Trader will be forced to learn P2P trading, switch to another bank (which allow cryptocurrency activity) or stop invest on cryptocurrency.

that's what is happening in my country, the government in my country does not legalize crypto trading. neither do they prohibit. it's just that everyone has to comply with the rules. So I think this is a step that the country is taking, and Nigeria seems to have taken a wise step towards it

[intelligentdude]

There are speculations that the reason is that CBN is trying to protect the value of Naira, hence the funny policy from them.

Most youths are now involved in crypto-related activities and blockchain technology cannot be stopped since it centers on the principle of decentralization.

However, crypto traders have been able to overcome this setback by falling back to the old way of buying and selling digital assets popularly known as Peer to Peer method.

A good number of exchanges have integrated the P2P platform and with this in place, traders can fund their crypto wallets and also withdraw from their crypto-wallets.

One of the things to consider when using this approach is safety. Scammers will want to take advantage of this opportunity and milk innocent crypto enthusiasts hence the need for newbies also known as noobs to transact using an exchange.

Personally, I prefer Quidax.com in funding and withdrawing my crypto assets. Quidax has an easy-to-navigate interface with a reliable customer support team.

For details on how to use the Quidax P2P platform, kindly visit this link: https://blog.quidax.com/make-way-p2p-is-live-on-quidax/

[bosede1]

Earlier last month, there has been an uproar from many about Nigeria's Central bank on its decision on cryptocurrency among Nigerian citizens. This led to panic among cryptocurrency investors in Nigeria, as the CBN directed that trader's accounts in Nigerian banks should be closed.

In a recent report released on March 22nd, the CBN says they are not discouraging citizens from trading or making use of Bitcoin. But it only told the banks to close accounts that had traded cryptocurrency

https://www.coindesk.com/nigeria-central-bank-bitcoin

If the citizens are free to trade cryptocurrencies, how will it be possible without making a transaction to or with their local banks? Of course, it might be possible with the P2p transaction. But what is the need of encouraging them, when you will still close their accounts?

Now my question is, why all this confusion? Isn’t the CBN confusing Nigerian crypto traders?
I feel they didn’t think this through before releasing their ban statement in February with their wild claims.

You can only get confused if you are confused already I don't think any of the steps taken by the government moved me a bit when I got the news, some friends were asking this and thatat but I wasn't moved because I know there are many platforms for me to trade without the central bank interference and all but its only the novice or starters that won't get this