SYSTEM GLITCH.💔
For the past 6days I've been trying to run my kid sis a transfer of 2k, and to recharge my WhatsApp line for monthly subscription but the unavailability of online Internet banking services has proved all my efforts abortive.
Everywhere in the country looks scattered, local businesses are dilapidating, the masses suffer in bank queue just to get new Naira notes, POS attendants are also busy in their own dubious ways extorting and adding more hardship to the masses more than the government itself. UBA on their own have been terrorizing my heart with the grammar "SYSTEM GLITCH" after series of transfers I've made.
The Federal Government had banned all form of crypto currency trading in the country because it is already affecting the banking system. But the fault should be from the banking system because of their poor banking services.
If the FG should lift the ban on crypto exchange in the country I think it will help to Forster the development of this country and also help the youth financially.
Cryptocurrencies are not outright banned in Nigeria, only banks are restricted from engaging in crypto transactions. You can engage in bitcoin transactions using P2P and centralized exchanges.
Bitcoin has little or no role to play in the current currency problem of Nigeria because the economy is fiat driven. A large number of business transactions in Nigeria are done through the Naira. Also, most businesses in the country are not accepting bitcoin which is a major problem.
The main problem is that even if you exchange your bitcoin using P2P you might not have access to fiat because it's scarce. Even banks don't have enough physical cash for customers.
If Nigeria had many businesses that accept bitcoin, it would have been much better because the system is fast and reliable.
