Early Sign to Adopt Bitcoin by Nigerian Government

[Agbe]

Early ours on Saturday, 5th November, 2022 Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin. The government is planning Nigeria to be the number one play in the crypto space in Africa. Some of the trainees who will complete the training, will have chanced to be in the London incubation programme while others will be giving the opportunity to become Bitcoiners as Satoshi's vision of the currency.
And the government  is inviting the citizens to take this opportunity and expose themselves in the new technological revolution.

Report: Over 30,000 Nigerians to Learn About Blockchain From Government Agency

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[OgNasty]

Africa has long been viewed as the continent that Bitcoin would be able to help the most.  I've seen this week that one of their largest grocery store chains now accepts Bitcoin on the lightning network.  That's a pretty huge first step to having the currency widely used on the continent.  It seems inevitable at this point.  That makes me think that maybe we're closer to Bitcoin truly mooning something unreal than most might think.  The number available is so staggeringly low, when the entire world is using it as a payment network, even the pocket change people hold would propel the price like we haven't seen before.

[BIT-BENDER]

Nigeria is trail blazing in the Africa Crypto-currency evolution and she is a source of inspiration to many other African countries. I would give the credit to the citizens of Nigeria who has not only massively adopted Bitcoin and crypto-currency in general but has also found ways to keep it going even when the government showed hate on it.

That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

[Hispo]

...
That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

That would make a lot of sense, since last time I checked Nigerian government was again Bitcoin and they even blamed Bitcoin for their national currency losing its value.  . What happened to the e-Naira by the way? Wasn't it supposed to be the CBDC Bitcoin killer in Nigeria?

Also, it is worth pointing out the fact the article makes direct reference to BSV, the closed source Bitcoin clone controlled by the faketoshi. I do not know what is going own but this article does not give me a good feeling, I would not trust its content without more confirmation.

[Upgrade00]

That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

This is a very valid perspective.
For a country which is very antagonistic to Bitcoin growth and development, having to train individuals in blockchain tech seems incongruent with the stance so far. It could be a political propaganda from the government to influence elections, although I doubt it would have much of an effect on the more educated members of the populace.

Also, it is worth pointing out the fact the article makes direct reference to BSV, the closed source Bitcoin clone controlled by the faketoshi. I do not know what is going own but this article does not give me a good feeling, I would not trust its content without more confirmation.

Neither would I.
The association with BSV is shady and with lots of information clouded in secrecy, I would await more details on how the training program would work, and how the incubation program would also work

[Dunamisx]

Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin.

This is a good news on its own foe the government of Nigeria to likely be on the verge of reconsidering it ways and approach towards bitcoin, but the adoption of blockchain technology is something that many countries have already been taking good advantage of before now since they discovered it could serve them alot of purpose to areas been applicable.

The government is planning Nigeria to be the number one play in the crypto space in Africa

But is the government truly planning this? or are they doing other things in disguise to pretend to the people, i believe a country that would do that should have Bitcoin being used for payment by its financial institutions as approved, they ban the use of bitcoin by banks and we are saying there's an indication for adoption, which kind of adoption? at the end you will hear NFT or CBDC as their supported coins, bitcoin should by now have a good stand from government approval by every financial and economic settings.

[_BlackStar]

Countries on the African continent especially Nigeria have very often received a lot of attention in the crypto world because of bitcoin. Many users have owned, used, traded bitcoin there so at the lowest level the government has managed to suppress good economic numbers among the people without ban bitcoin completely.

For a country which is very antagonistic to Bitcoin growth and development, having to train individuals in blockchain tech seems incongruent with the stance so far.

Wait, is Negeria really against it instead of regulating it? I think it is still possible to relate to the political atmosphere which is the best way to get a lot of public support especially from those who like bitcoin and crypto.

[Zaguru12]

That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

This is certainly the only reason I think this is coming up now. If not why would a government that has been ruling for 8 years and have been hostile to bitcoin suddenly have a change of hearts.
In fact this isn't the first of this initiative. Here is a link to where it is reported that they are partnering with Binance to educate people on blockchain.
Two big initiatives to help spread the adoption of bitcoin in a space of two months? After years of banishing it? It's political. I just hope the next government doesn't throw away the idea when they come in.

Wait, is Negeria really against it instead of regulating it? I think it is still possible to relate to the political atmosphere which is the best way to get a lot of public support especially from those who like bitcoin and crypto.

I think they are actually looking into the options since many youths have approached one of the leading candidates in the country and his resounding response of assuring to look into it has brought some youths to his sid. Now this current administration might actually be playing there last card with all this initiatives to win those youths back from the opposition

[Rruchi man]

I think they are actually looking into the options since many youths have approached one of the leading candidates in the country and his resounding response of assuring to look into it has brought some youths to his sid. Now this current administration might actually be playing there last card with all this initiatives to win those youths back from the opposition

Exactly, it may just be too late to win back hearts, although this their initiative is welcomed. It will have little effect on the peoples political opinion about the present government in the country. One thing it proves is that the government can be indecisive and that their former decision on crypto was borne from a standpoint of either ignorance or hate. The radio and other media outlets can be engineered to deliver any information or promises the government wants whether they have intentions to honor them or not. Believe I will believe these, I will like to see a proper list of people who qualified for it and picture evidence.

[Odusko]

That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

This is exactly what I can relate this news to, this is just political propaganda in the wrong direction, teaching citizens about blockchain technology and crypto payment gateway processor is a great opportunity for the citizens to dive into the blockchain industry as an early adopter even though Nigerians on their own have adopted blockchain, Bitcoin for personal usage.
Where the government got it all wrong is where the focus is on Bitcoin Satoshi version BSV which most of us know is not real Bitcoin and was developed by Craig to claim the identity and control of the Bitcoin ecosystem which has not been a successful attempt for him, even though Bitcoin Satoshi version BSV exist on the exchange, it doesn't change the fact that BSV is just a copy cat and is no different from other altcoins like Bitcoin cash.


From this screenshot, you can see where that is mentioned, so to me personally, this is not a development that can get my attention since the process is faulty and dead on arrival with the mention of the Bitcoin Satoshi version (BSV)
Below the screenshot is the current price of the bitcoin Satoshi version, which has witnessed a lot of manipulations in the past.

This is not the first time the Nigeria government through its agencies will misplace their properties in blockchain/ crypto adoption, we can also see similar government policy mistakes when the CBN developed the e-naira that does not run on the blockchain which has led to many Nigerians not being able to onboard the e-naira wallet through their banks.
No doubt, blockchain/bitcoin is the fastest were to bank the unbaked but will the government take the right step in the right direction the answer is no for now due to corruption and lack of competence of the personnel in charge of key agencies in Nigeria.

[Vaskiy]

Nigeria moving forward along with technology is really impressive and it makes the leader to rest of the African nations in the cryptocurrency adoption, usage and giving importance. An initiative from the government makes it better than what a group of people or an non governmental organization does.

Already we've seen good way of spreading about cryptocurrency happening through different forms, even through churches. Now the government helping its people get educated about the technology that makes it is really a must and appreciable move.

[Davidvictorson]

Personally, I would say that this is a good initiative but I would conclude that it is an early sign to adopt bitcoin. Never. I know the government. What I think is that, this is definitely going to have a ripple effect on the trainees as it may lead some of them to be curious about bitcoin but it can never be the government doing so for bitcoin. They are selfish and would rather focus on resurrecting their failing Enaira.

[Myleschetty]

Early ours on Saturday, 5th November, 2022 Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin. The government is planning Nigeria to be the number one play in the crypto space in Africa. Some of the trainees who will complete the training, will have chanced to be in the London incubation programme while others will be giving the opportunity to become Bitcoiners as Satoshi's vision of the currency.
And the government  is inviting the citizens to take this opportunity and expose themselves in the new technological revolution.

Report: Over 30,000 Nigerians to Learn About Blockchain From Government Agency

Adoption of Bitcoin by some government can be tricky and what must governemnt always support the most is blockchain and most of them always sees Bitcoin as an enemy of the state.
It is hard to believe that the government that bans their monetary payment system and local banks from handling crypto-related transactions.
I will advise you to wait a little longer before you can be sure they are really serious about it.

[Die_empty]

Personally, I would say that this is a good initiative but I would conclude that it is an early sign to adopt bitcoin. Never. I know the government. What I think is that, this is definitely going to have a ripple effect on the trainees as it may lead some of them to be curious about bitcoin but it can never be the government doing so for bitcoin. They are selfish and would rather focus on resurrecting their failing Enaira.

We might not know the secret reason for this blockchain training program, but this is indeed a miracle. A government that has always crucified the crypto space linking the industry to all sorts of criminal activities. Bitcoin has been blamed for money laundering, ransom payments, and even the loss of value of the Nigerian currency the Naira. The Central Bank has backed all forms of propaganda and falsehood to discredit bitcoin.

But it seems that they have come to realize that the future of Nigeria is the youths and bitcoin and Nigerian youths have become inseparable close allies. Now they are gradually waking up from their slumber. The training program might not be the best but it is indeed a starting point for better days ahead.

[Darker45]

You seemed to have put words where there are none. The way you share the news, you made it look like it is all about Bitcoin. But based on the article, it isn't really about Bitcoin.

Early ours on Saturday, 5th November, 2022 Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin.

I haven't watched the official announcement, but nowhere in your source did it say that the the training will specifically be about Bitcoin. And I doubt it is about Bitcoin.

Some of the trainees who will complete the training, will have chanced to be in the London incubation programme while others will be giving the opportunity to become Bitcoiners as Satoshi's vision of the currency.

How I wish these were the exact words in the news. Alas, they aren't. Rather than being exposed to Bitcoin and become Bitcoiners, the actual exposure would only corrupt their minds. The exact words in the news are:

Others will reportedly get exposed to the Bitcoin Satoshi Vision (BSV) ecosystem.

[kryptqnick]

It's about time Nigerian authorities showed some pro-crypto stance, given how high adoption of Bitcoin seems to be in Nigeria and how many small businesses are trying to do something with Bitcoin. It's great that they're organizing training, but it's the National IT Development Agency, and perhaps their goals and opinions don't align with those of other authorities. Moreover, there's a fine difference between 'blockchain solutions' and becoming Bitcoin-friendly. It's still a step forward, but clearly not as big or as cool as it might initially seem from the OP.

[Daltonik]

Nigeria has been actively talking about bitcoin since 2020, one way or another, first the SEC of Nigeria designated cryptocurrencies as securities, then the CBN ordered banks to block access of cryptographic organizations to the financial system. After that, the SEC announced that it had suspended the recommendations. Since then, CBN has been the only Nigerian regulator that controls the country's cryptocurrency industry.

And finally, in the fall of 2022, the government of Nigeria begins negotiations with Binance on creating now favorable conditions for cryptocurrencies, but so far in a separate zone https://cointelegraph.com/news/nigeria-binance-in-early-stage-talks-for-crypto-friendly-economic-zone
So in six months I would not be surprised that Nigeria will again start banning and blocking everything related to crypto assets.


Crypto and sports have been in collaboration for quite some time anyway, so for example Binance has collections of NFT FC Porto players, many famous athletes have approved cryptocurrency projects. It is known that the Dallas Mavericks have launched a cash-back rewards program to encourage fans to buy tickets and equipment using Dogecoin.  

[so98nn]

Africa seems to be plain ground for experimenting bitcoin and inject the blockchain system into it from the scratch. The number one reason is their own currency which is already so much devalued that it’s as equal to as not using it anymore. I mean simply put, it’s none of use if you can’t even buy daily needs without spending notes which says 10,000 Naira, 5,000 Naira. Those are very very big denominations. 

With countries development ahead, its not in the right direction so these gonna rise with the time. It would be unrealistic to print money for that country because they will need it in enormous volume.

This is where comes bitcoin in play. It’s smooth transition seems highly possible for them.

[TheGreatPython]

Personally, I would say that this is a good initiative but I would conclude that it is an early sign to adopt bitcoin. Never. I know the government. What I think is that, this is definitely going to have a ripple effect on the trainees as it may lead some of them to be curious about bitcoin but it can never be the government doing so for bitcoin. They are selfish and would rather focus on resurrecting their failing Enaira.

We might not know the secret reason for this blockchain training program, but this is indeed a miracle. A government that has always crucified the crypto space linking the industry to all sorts of criminal activities. Bitcoin has been blamed for money laundering, ransom payments, and even the loss of value of the Nigerian currency the Naira. The Central Bank has backed all forms of propaganda and falsehood to discredit bitcoin.

But it seems that they have come to realize that the future of Nigeria is the youths and bitcoin and Nigerian youths have become inseparable close allies. Now they are gradually waking up from their slumber. The training program might not be the best but it is indeed a starting point for better days ahead.

I can't think of any negative reason for this sudden embracement towards cryptos. There are other countries who are like this before where they also ban cryptos and then they unban it later on. It is said that their government already realizes the benefits of cryptos, that it can help improve the economy of their country.

Now can we stop thinking negatively shall we? Participants are lucky because they can be able to travel in London only for them to understand bitcoin more and to make use of bitcoin as a currency, as stated in the description. We readers can only wish that the same thing can happen to our country soon. I mean not the banning part of course but the traveling part .

[Victorik]

Early ours on Saturday, 5th November, 2022 Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin. The government is planning Nigeria to be the number one play in the crypto space in Africa. Some of the trainees who will complete the training, will have chanced to be in the London incubation programme while others will be giving the opportunity to become Bitcoiners as Satoshi's vision of the currency.
And the government  is inviting the citizens to take this opportunity and expose themselves in the new technological revolution.

Report: Over 30,000 Nigerians to Learn About Blockchain From Government Agency

Yet, the government through its central bank is freezing account of any one that uses his/her bank account for a cryptocurrency transaction.

While the news is a welcome development, I seriously doubt the government committed to see it through.
This might end up only on the news without any thing substantial done.