Nigerian crypto tax move is ‘premature’ — Local stakeholders

[Wiwo]

We have people of wisdom in Nigeria, but why the process to do something correctly is hard in the country. Nigeria need to be fast on regulating cryptocurrencies. The suspended CBN president failed to see how Nigeria government will earn from regulating cryptocurrencies, how cryptocurrencies will increase Nigeria economic growth and development and how it will increase employment. Even without regulation, employment increased and many Nigerians depends on crypto job as of today.

Our problem for this country just circle round the former CBN governor, dat guy was a cancer in our economy. Nothing wey him do wey favor the economy of the country. Na only to dey put laws wey go take us backwards na wetin sabi. What's the need of taxing crypto when it isn't regulated in the county. Na only money mata wey we dey rush sign, we no go do the one wey go make the citizens survive and encourage more business and people to enter the cryptocurency market. E dey do me like say the government rush passed that taxation bills so dem fit dey suck all this crypto companies wey dey country dry.

Dem no go create a conducive environment for business to prosper with regulations yet dem wan dey tax dem. The taxation no be bad thing oh like e good say government dey take tax as na very good way for government to dey gather money way dem go use package the country but what about the regulations of the industry. To do business for this country na big wahala. As of now the taxation wasn't necessary or abi US dun passed their own taxation bill because this country sabi follow follow (maybe na why dem hurry go pass the bill). Anyway sha I just hope say as the taxation bill dey take effect e go make governments to begin reason regulating the industry.

Truth be told and I concur with what brainboss said because former CBN governor Godwin Emefele really bastardized the Nigeria economy for this space of 8/years because all his monetary policies have really dragged the country economy backwards because instead of him adopting and regulating cryptocurrencies even though decentralized coins like bitcoin can't be regulated unless for it services such as exchange and other crypto payment gateways,  where the government could possibly generate income taxes,  the central bank governor have done a lot of bad policy implementation and unless the current CBN governor make attempts to correct those anomalies and effect a new law.

Because of the actions of the CBN under Godwin Emefele, the financial system has witnessed a lot of bad policies which some of them already summer suited e.g the cashless policy that the CBN governor used to launder huge amounts and thereby subjecting Nigerians to undue suffering for months, anyways let us hope that the new CBN governor will make an adjustment to this and come off with a more crypto-friendly policy that will bring in a lot of opportunity to the citizens and having a positive impact on the economy in general.

[Mate2237]

Truth be told and I concur with what brainboss said because former CBN governor Godwin Emefele really bastardized the Nigeria economy for this space of 8/years because all his monetary policies have really dragged the country economy backwards because instead of him adopting and regulating cryptocurrencies even though decentralized coins like bitcoin can't be regulated unless for it services such as exchange and other crypto payment gateways,  where the government could possibly generate income taxes,  the central bank governor have done a lot of bad policy implementation and unless the current CBN governor make attempts to correct those anomalies and effect a new law.

Godwin Emefele  was not to develop Nigeria but to suffer Nigerians because of what Nigerian government has done to him so he came for revenge. And that is why he see that the youth was progressing from cryptocurrency, he asked the commercial Banks to stop using/making transaction with cryptocurrencies. Emefele policies were not in any day favour the people of Nigeria. Ordinary cashless policy was a mess up. The former CBN governor was capable and incompetent for the position.
But now that Emefele is not there again, do you sense any changes from that economy institution of the state? Because from what I am seeing and hearing, I have not seen any changes at least must of the policies of From former in the economy should be drastically removed and replaced it with progressive ones but nothing is happening oo.

[SmartGold01]

We have people of wisdom in Nigeria, but why the process to do something correctly is hard in the country. Nigeria need to be fast on regulating cryptocurrencies. The suspended CBN president failed to see how Nigeria government will earn from regulating cryptocurrencies, how cryptocurrencies will increase Nigeria economic growth and development and how it will increase employment. Even without regulation, employment increased and many Nigerians depends on crypto job as of today.

What do you expect in a Nation being ruled by old fools who doesn't want the intelligent people to show up their faces and make things right for her country except their circler cartel and cabals that wants to take over the important sections and position in our country. No wonder they said
 any nation ruled by uneducated people the entire country are subjected to be also uneducated while we have vibrant people not only people but professors and many more, yet we don't still acts faster in the areas we felt that would foster the economical growth of our nation.

Well I didn't expect them see clearly about the cryptocurrency industry while all their efforts are being channeled to other useful mineral resources which they felt could generate a higher revenue for the country. So do not expect a magic to happen just like that because I believe they've been blindfolded with oil and other minerals, if it was an intelligence leader I guess something smoother would had been done by now without any hesitations, but let's watch and see what they would do.

[Adams0001]

Well I see Nigeria government as very weak in Cryptocurrency matters dem no no the important of di crypto things in the country. Nigeria would have been the first country in Africa to adopt, accept and regulate cryptocurrency but they are Sceptical about the technology. The ministry of technology and the ministry finance would have work Hand in hand to achieve their new development in the world. But the ministry of technology is ill staff so they don't even understand the stuff. Nigeria is the Cryptocurrency giant in Africa yet Namibia has done their regulation and South Africa is doing their at the end of the year. These are good examples.

Na true you talk, if dey know the value and benefits of cryptocurrency. dey go make am function for our country, many country that accept Bitcoin as a payment and others cryptocurrency now dey are enjoying using it. I pray make our leaders understand the benefits of Bitcoin so that dey will allow it in the country. 

But, in my opinion, Bitcoin is not backed by anything. As a result, its value is solely what the community views it to be. As a result, its value is exceedingly variable. Furthermore, because bitcoin is difficult to identify and manage, it is difficult for the government to keep tabs on monetary operations taking place in the crypto sphere. Cryptocurrency could be used to avoid taxes or to fund terrorists. Governments have a strong desire to maintain strict control over financial operations. Cryptocurrency makes it nearly impossible. This is why they are opposed to it.