Nigerian activist receives local support in legal fight to use crypto

[Charles-Tim]

There is a lawsuit against many regulators and the government of Nigeria about their hostility against cryptocurrencies in Nigeria by a crypto activist and politician James Otudor. According  to the news, he is receiving support from the local cryptocurrency community. We all know how the regulators and government strictly against P2P transactions in Nigeria and how they told some P2P exchanges to stop providing crypto/naira P2P services to Nigerians. I think this is worth knowing.

https://cointelegraph.com/news/nigerian-crypto-activist-james-otudor-gains-community-support

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

[Barikui1]

There is a lawsuit against many regulators and the government of Nigeria about their hostility against cryptocurrencies in Nigeria by a crypto activist and politician James Otudor. According  to the news, he is receiving support from the local cryptocurrency community. We all know how the regulators and government strictly against P2P transactions in Nigeria and how they told some P2P exchanges to stop providing crypto/naira P2P services to Nigerians. I think this is worth knowing.

https://cointelegraph.com/news/nigerian-crypto-activist-james-otudor-gains-community-support

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

Well, I dy surprise somehow for him to be able to win the government for their own court,  because I know the country I from, our judiciary system no dy sincere and as clean as e surpose be, but anyhow, na good news to the naija crypto community.

Then talking of the government and their fight against cryptocurrency in naija, sincerely speaking I no too dy surprise because the government always want to be in control, and since them no fit control the crypto sector due to it privacy, them just dy look for ways or something to use as excuse to take fight am, that's why you go hear something like, cryptocurrency are being used for fraudulent or criminal activity, when dy also knows that our naira is being used the same way cryptocurrency is being used, so to me, I just see am as an excuse wey our government dy use fight cryptocurrency, not because they don't know that our naira is being used also.

[asarfiar]

There is a lawsuit against many regulators and the government of Nigeria about their hostility against cryptocurrencies in Nigeria by a crypto activist and politician James Otudor. According  to the news, he is receiving support from the local cryptocurrency community. We all know how the regulators and government strictly against P2P transactions in Nigeria and how they told some P2P exchanges to stop providing crypto/naira P2P services to Nigerians. I think this is worth knowing.

https://cointelegraph.com/news/nigerian-crypto-activist-james-otudor-gains-community-support

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

agree with you as a newbie, still many African countries expose cryptocurrency investors to scams and increased loss and risk of funds, which lack a clear regulatory framework to oversee and regulate. Crypto is perceived by Nigerians as a solution to deal with an uncertain economic structure, far from any intention to defy their government that destabilizes their national currency. However, it is also true that cryptocurrencies have brought about a big change in the financial landscape among Nigerians and I believe that Bitcoin investment in the world of cryptocurrencies will reflect a big change among them in the near future.

[Adbitco]

So far I think he has spoken senses into Nigerian government regarding about cryptocurrencies and how they view it from their end, what I noticed is that they are afraid of having a competitive market where by people would start making investment into Bitcoin and cryptocurrency at large. Other things I noticed is that vast majority of Nigerians are independent, no longer relying on government or politicians at this they are afraid that their core boys and loyalist won't true be depending on them so they want to terminate where people would want to use and survive except it's from them.

@Charles-Tim thanks for sharing this are kinds of news we love to hear from our people.

[Roseline492]

So far I think he has spoken senses into Nigerian government regarding about cryptocurrencies and how they view it from their end, what I noticed is that they are afraid of having a competitive market where by people would start making investment into Bitcoin and cryptocurrency at large. Other things I noticed is that vast majority of Nigerians are independent, no longer relying on government or politicians at this they are afraid that their core boys and loyalist won't true be depending on them so they want to terminate where people would want to use and survive except it's from them.

@Charles-Tim thanks for sharing this are kinds of news we love to hear from our people.

What you are saying is true because indirectly we are in a dictatorship government were the government has subjected there citizens into abiding by any rule they want and also making sure that they get rid of anything that would make the citizens independent by not relying on the government for anything, so perhaps that is one of there fear because they feel that the moment everybody has other means of survival they would have the resources to stand against them some day, so perhaps that is why they want to remove those privileges that's sustaining people because there is no other reasons to justify there actions, however I would also commend on James Otudor on his lawsuit against the government because is the high time they need to draw there attention that cryptocurrency is not the reason of our economic decline.

[Ishicryptic]

I'm very happy that people are becoming bold to come out and speak out for what they believe in, I applaud the crypto activist in discussion for his courage to come out to speak against the anti crypto attitude of our government and it's regulatory agencies. Whether his legal fight with the government of Nigeria, concerning the state of cryptocurrency in the country will amount to anything meaningful will be known in the near future because the judiciary is part of the government and there is likelihood that they will dance to the tunes of what the other tiers of government wants. Clearly the Nigerian government just like some other governments are afraid of what crypto stands for and they will either ban or impose unfavorable restrictions on cryptocurrency transactions. I hope that if more notable voices will join this crypto activist James Otudor, the government will not have a choice but to atleast hear the strong voices of cryptocurrency activists.

[Alphakilo]

Which kind of support is the activist receiving from the community?

I like his move and this has been a long time coming. Infact I think we should have seen a lot of law suits against the federal government, CBN and the other with regards to this crypto matter since.

I support him too and cheer him on. If this one no succeed wetin go come be our next step?

[Wiwo]

I think he is receiving those support from his business associates, who's business have been directly affected by government regulations on cryptocurrency businesses such as p2p exchanges and other local virtual digital assets traders, because if you think about the larger cryptocurrency community in Nigeria, there is no unified body that coordinate their activities so for sure everyone will only be interested to the level at which it affects them.

So let not border ourselves so much about a baseless and fruitless lawsuits that won't end with any tangible outcomes.

[Odogwu-Blockchain]

He is actually on a good movement though but I can vividly bet you he won't win, even if he has a good support from many crypto communities, that wouldn't change anything. No body or organization can really fight the government, you never win doing that, you can only challenge them on the social media to gain popular recognition for your own personal benefits that's all, in my opinion.

The government stopping p2p trades in the country from those centralized exchange is strictly for their own beneficial interest, power is their favorite tools to use control the masses, so it's up to the citizens to obey them not trying to challenge the system, it won't work and never will it work.

[Richbased]

I like his move and this has been a long time coming. Infact I think we should have seen a lot of law suits against the federal government, CBN and the other with regards to this crypto matter since.

Inasmuch as we the crypto enthusiasts in the country seek a fair environment where we can perform crypto operations without being afraid of the government but we have to "tread with caution" because we know how our country is now, when her citizens tries to agitate for what is right the government always look for a way to silence them without caring about the rule of law but however, i believe the government cannot continue to make things difficult for too long, a day will surely come when they would lose this battle against cryptocurrency.

So let not border ourselves so much about a baseless and fruitless lawsuits that won't end with any tangible outcomes.

You're right mate, after all they all work hand in hand because our judicial system now is corrupt such that at some point they will look like they are seeking for justice for you but in the end they abandon you at the middle and you will be left at your own fate. I have already suggested before that this is a very critical time for those of us in the crypto industry but we don't necessarily need to fight the government for now, perhaps fighting with the government is not an easy fight because it will take you a lot of things which you can even lose at the end because the government revolves around themselves, even the judiciary have been compromised.

[iBaba]

There is a lawsuit against many regulators and the government of Nigeria about their hostility against cryptocurrencies in Nigeria by a crypto activist and politician James Otudor. According  to the news, he is receiving support from the local cryptocurrency community. We all know how the regulators and government strictly against P2P transactions in Nigeria and how they told some P2P exchanges to stop providing crypto/naira P2P services to Nigerians. I think this is worth knowing.

https://cointelegraph.com/news/nigerian-crypto-activist-james-otudor-gains-community-support

I think this lawsuit was a bold step taking by James Otudor and being a politician, I hope he understands the implications and how to find his way towards success. Fighting for the rights of Bitcoin users in the country is a good course to pursue in my opinion and if he's able to engage the government properly through the court by rendering all the necessary information the government needs and probably giving the government the way outs, I think it will go a long way to at least regularize the whole thing.

This lawsuit is also meant to enlighten more Nigerians on the current status of crypto assets and blockchain technology in the country as to whether it's legal or illegal and what the restrictions are. What I enjoyed with him was the aspect he emphasized on bringing about transparency to the system first and he seems to be resistant of any donations tendered to him by the bitcoin community because the government might use that against him in the near future probably accusing him of pursuing the lawsuit with an alterior motives or agenda.

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

Yes. A lot of Nigerians don't have the knowledge on the true status of crypto assets and blockchain technology in the country and many people think it's illegal to even mention the word bitcoin as far as radio stations and television platforms like he mentioned. Many crypto enthusiasts have also fall into the hands of some law enforcements because they use cryptocurrencies while others think it's banned.

 I have also written proposals to my state government sometime last year which got a huge interest of the new government then as the governor was open to a lot of ideas and have the intention of making new ideas flourish. Later after was the pronouncements made by the CBN and SEC which was the reversal of its earlier decision to about banning bitcoin or so.

That news of CBN lifting bans on cryptocurrencies was around December last year and while that was a good news, such kind of decisions (banning and unbanning) have slowed down our efforts to get the buy in of our local governments who are also afraid of their public adoption to such emerging technologies. I hope it will get better soon.

[Doan9269]

He is right and i see nothing bad in all what this politician/activist have said, there is no tangible point from the way government is taking hold of cryptocurrency and even if they are this adamant on other cryptos, bitcoin should be an exception because some countries already have recognized it and were making use of it as a legal tender, crypto gives everyone the full right to be in control of their financial currencies.

[Davidvictorson]

He is right and i see nothing bad in all what this politician/activist have said, there is no tangible point from the way government is taking hold of cryptocurrency and even if they are this adamant on other cryptos, bitcoin should be an exception because some countries already have recognized it and were making use of it as a legal tender, crypto gives everyone the full right to be in control of their financial currencies.

This was my response when I saw it on the Press thread - This is a good development however I am not too optimistic about the outcome of it. Maybe because I really know how it would turn out and that is in the favor of the defendants who are the government. There are already anti Bitcoin and this point there is nothing that's can be done to change their mind about it to. They are conservative in their thinking. Unless a new government that is liberal and youthful then I'd have hope. But right now, all hope is lost in this cause/case .

[CryptoHeadlineNews]

I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

He is actually right on the statement he made above, and even the government knows it, but the main reason why our Nigerian government is fighting crypto seriously is simply because it can't be controlled, whereas the other vices mentioned above are secondary allegations (i.e as an aid to terrorism, banditry and kidnapping), because even before the existence of Bitcoin in in 2009, these vices have already been in existence, of which fiat, gold and other valuable natural resources has always been a medium of exchange or means of funding to this.
I just wished we could have more people of this to speak about the true right of Bitcoin, and how positively, it has affected the lives of the young Nigerian youths.

[Wiwo]

I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

He is actually right on the statement he made above, and even the government knows it, but the main reason why our Nigerian government is fighting crypto seriously is simply because it can't be controlled, whereas the other vices mentioned above are secondary allegations (i.e as an aid to terrorism, banditry and kidnapping), because even before the existence of Bitcoin in in 2009, these vices have already been in existence, of which fiat, gold and other valuable natural resources has always been a medium of exchange or means of funding to this.
I just wished we could have more people of this to speak about the true right of Bitcoin, and how positively, it has affected the lives of the young Nigerian youths.

when politicians want to luander money they do it in liquid cash, because there won't be any trace,
When kidnappers want to receive ransom they do it in fiat, latest record has it aht billions of dollars was wired out of Nigeria through the banking system by terrorists, all this was done through the bank and the traditional financial system which is controlled by the governments, so why then should there be attacking bitcoin and cryptocurrency a d trying to make any transactions through cryptocurrency to look as if it a terrorism financing.

Alot need to be done in this country so that we can regain the track we are missing, because being one of the countries that top in volume of bitcoin /crypto trading, having a good friendly regulations will help alot to generate tax from the high volume of trades that goes through Nigeria traders.

[CryptopreneurBrainboss]

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

The excuse say crypto is used for fraud or anybody doing cryptocurrency is just disguising as they're fraudsters, na wetin go make us remain backwards for the world and Africa self because some other African countries dun dey advance pass us for crypto matters. The government no know wetin dem dey  miss by attacking crypto for the country wey be say dem supposed dey see how dem go welcome am so dem fit get inflow of businesses and companies dem wey dey associated with the industry so dem fit dey help strengthen the economy in various ways.

First e go bring about job creation, foreign investors and then revenue for the government. As for the activist, he's fighting a good battle and we can only hope he wins because we know as things dey be for this country. Las last the government get the final say because na dem get the government and they make the policy we dey guide the country so if dem say crypto bad for the economy, we can only hope they come to their senses to see that they're making a mistake.

[rachael9385]

We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

Exactly mate, government no go ever ban their fiat currency because even them too get am already. And those years wey guys dey use fiat dey demand ransom too the government no also request to ban fiat. The truth be say no be to day corruption start and make them no talk say Bitcoin dey increase the fraud because nah lie, and them also know the truth. But I dey much happier say government no go fit completely ban crypto currency for the country/world because e dey anonymous .

[nelson4lov]

Imo, the fact is very simple, really. Government can't and won't bad fiat currencies because they have the ultimate printer that they can just keep printing more. Why is inflation eating away most economies of the world? Simple, Governments are printing more than they're making from revenues, taxes, etc.

During the Elon Musk and Donald Trump interview, Elon Musk made a remark that the only checks that never bounce in the world are government checks — whether there's money or not, it is paid.

But with crypto, there is no control. If governments sell their BTC stash, they don't have any mechanisms to just make more out of thin air. Thus, limited supply is indeed a limiting factor.

[promise444c5]

Cryptocurrency are use for fraud ... blah blah blah, this are all excuses of incompetency from government we all know the truth,it's just that this government takes us as fools most times just because the minority rule in a country where the voice of the majority suppose  to be supreme in the first place. No matter how wrong they are , they are always right in their judgement(clowns), they've taken out 2~3exchanges what's the difference... nothing they just kept going through the same loop thus making things worst.Crypto is the new digital currency unlike fiat and they can't do nothing to stop it instead they just need a way to accomodate it and  get something out of it(simple).

[Franctoshi]

There is a lawsuit against many regulators and the government of Nigeria about their hostility against cryptocurrencies in Nigeria by a crypto activist and politician James Otudor. According  to the news, he is receiving support from the local cryptocurrency community. We all know how the regulators and government strictly against P2P transactions in Nigeria and how they told some P2P exchanges to stop providing crypto/naira P2P services to Nigerians. I think this is worth knowing.

https://cointelegraph.com/news/nigerian-crypto-activist-james-otudor-gains-community-support

He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

This is a step in the right direction and indeed mean so well for every crypto enthusiasts out there for we to operate freely, the economy is bitting so hard that people can barely survive and now lot of people no longer rely on government's provision of jobs to survive and therefore has resorted in doing some online jobs, crypto jobs and as well as investment into Bitcoin and trading of cryptocurrency to survive, thereby using cryptocurrency as a payment gateway.

This legal action by this Nigeria politician James Otudor is highly commendable as crypto lovers in Nigeria has been pushed to the wall and is due time that they speak out ,However, we all know how the judiciary system here in Nigeria works ,the government controls everything and runs a monopoly system of government, where the government at the centre controls the other two arms of government, the Judiciary and the legislative arms of  government, therefore except this banning of P2P affected most of our politicians as some of them are directly or indirectly has investment in cryptocurrency and where we have majority of them go lobby the court to rule this case in their favour, else the federal government would tell the court to throw this case away and the case will die.