Do you think Nigerian government has accepted bitcoin

[Onyeeze]

Do you think Nigerian government has accepted bitcoin in Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

[Sim_card]

Nigeria government might have not come in public to say that they have fully accepted bitcoin but it ia not still illegal to use bitcoin in Nigeria because there are few places in Nigeria where there is bitcoin ATM like
Dazey Lounge and Bar, Ajah and CI crypto solution in Ikeja. These are two major commercial places in Lagos and the government have not said anything against it. Bitcoin is not banned because the government knows that we Nigerians are using and trading bitcoin and this is why they have decided to start monitoring some exchanges operating in Nigeria. Recently, we heard of funds of Nigerians seized from Bybit and some two extra exchanges. The government has also come up with some harsh regulations on crypto in Nigeria which has sent some exchanges parking.

[HajiBagi]

Nigeria government might have not come in public to say that they have fully accepted bitcoin but it ia not still illegal to use bitcoin in Nigeria because there are few places in Nigeria where there is bitcoin ATM like
Dazey Lounge and Bar, Ajah and CI crypto solution in Ikeja. These are two major commercial places in Lagos and the government have not said anything against it. Bitcoin is not banned because the government knows that we Nigerians are using and trading bitcoin and this is why they have decided to start monitoring some exchanges operating in Nigeria. Recently, we heard of funds of Nigerians seized from Bybit and some two extra exchanges. The government has also come up with some harsh regulations on crypto in Nigeria which has sent some exchanges parking.

The government can not come out in the public and said that bitcoin is illegal in Nigeria because there are most of this our government that are also holding bitcoin, many of our government that steal public money they always use to change the money to dollar and invest in bitcoin, government can never ban bitcoin because if the government want to do that it will affect some leaders in our country, even though the government are stoping some exchanges for p2p of Nigeria exchanges they have the reason why they are doing that not because of the bitcoin.

From my own observation the reason why government is stoping and complaining about some exchanges is because they are not getting any taxes from them and the government is looking for a way to generate money from them because they have found out the total amount the exchanges are earning, we suppose to know our leaders that they always do something to make money, in any place where Nigeria will not get money or generate something from it they don't want it, so for me the government can't do anything or stop bitcoin in Nigeria if not it will affect them.

[RockBell]

Do you think Nigerian government has accepted Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

When Tinubu came around he started given vibes as if he was going to allow us trade bitcoin in peace but now everything is looking as if his government is against crypto enthusiasts and fighting all exchanges blaming them that they are behind manipulating the currency which is not suppose to be so, their are countries that are willing to even train their own youth, just as a temporal solution to the unemployment put our government is busy fighting against people that are trying to survive because their are periods that the police were even harassing those doing crypto. And the kind of police's they want to go with against those that are doing bitcoin won't be favorable at all,  the only fictional exchange will not be more than bybit I just hope that they will all come to agreement latter with the federal government so that they can return to our air space. And now we know that people do money laundering but they should go after does people and focus on how to make the investment better. Blords case I will just have to reserve my comment.

[Y3shot]

Though Bitcoin is not illegal in Nigeria but the government have not accepted , the government even tried to restrict Bitcoin trading by closing some exchange not to trade in the country.  From what we have seen from the federal government it shows that the government is not in support of bitcoin but they can't come out bold to ban it because they are scared, they know they owing the youth a lot and restricting bitcoin without creating employment and opportunities will be a serious problem to them.

[Jegileman]

Do you think Nigerian government has accepted Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

I don’t know how well the EFCC prove people after seeing bitcoin wallets in their devices. It will only take you flaunting too many wealth and showcasing an extravagant lifestyle for EFCC to want to track you and get to that extent of even seeing what is in your phone. Keeping secret is good and those are one of the best ways to own bitcoin. Most yahoo boys caught for illegal stuffs do that flaunting and has caused them a lot. Incidents like that are taking with more priority than other ones. About bitcoin wallets founds in phones, I saw in the social media recently where police officers extorted money from their victims as a form of bribe. Police are going to investigate the matter and I haven’t seen that those victims will be punished for owning bitcoin in their wallet.

Though Bitcoin is not illegal in Nigeria but the government have not accepted , the government even tried to restrict Bitcoin trading by closing some exchange not to trade in the country.  From what we have seen from the federal government it shows that the government is not in support of bitcoin but they can't come out bold to ban it because they are scared, they know they owing the youth a lot and restricting bitcoin without creating employment and opportunities will be a serious problem to them.

That will not stop the government from coming out boldly to say that they’re against bitcoin trading or investment. Even though that’s among the reason, I just feel some government top officials are hiding their illegal activities through bitcoin trading and investment. Bitcoin has its purpose but some people use it in an illegal manner which has caused some tarnish in the acceptance of bitcoin worldwide. The youths have already known the true value of bitcoin and have benefited from them greatly, so no matter the rule by the government, they’ll look for a way to still be using it.

[letteredhub]

Nigeria government might have not come in public to say that they have fully accepted bitcoin but it ia not still illegal to use bitcoin in Nigeria because there are few places in Nigeria where there is bitcoin ATM like
Dazey Lounge and Bar, Ajah and CI crypto solution in Ikeja. These are two major commercial places in Lagos and the government have not said anything against it. Bitcoin is not banned because the government knows that we Nigerians are using and trading bitcoin and this is why they have decided to start monitoring some exchanges operating in Nigeria. Recently, we heard of funds of Nigerians seized from Bybit and some two extra exchanges. The government has also come up with some harsh regulations on crypto in Nigeria which has sent some exchanges parking.

Don't forget that we're in a society that what is written on paper is absolutely different from what is practically taking place and it just go on that way seeming normal. If the government haven't banned çrypto which officially there's nothing like that, but the question is what makes them have to freeze citizens bank account suspected to have been used for crypto related transactions like p2p, or theblaw enforcement having to harrass you at the little knowledge that you're into cryptocurrency. My two cents are that everyone just have to tread carefully to avoid playing a victim role.

[Coyster]

Cryptocurrency is legal in Nigeria, but our government is not a crypto-friendly government and sometimes i feel they are uncertain with what they want to do with crypto, those in power have made conflicting statements regarding crypto and finally they instructed fintech banks not to dey involved with anything wey concern crypto.

We suppose dey very careful for this country oh, the way our government dey operate dey very scary and sometimes i feel they like to attack young and successful people.

[CryptSafe]

I do not think crypto is illegal in Nigeria because if it is, the government would not have approved the license of the two crypto exchanges that launched few weeks ago to be carrying out crypto engagements in the country. The clamp down on crypto activities and gathering would have taken another tone on the crypto enthusiasts. They would not have bothered fighting with binance to take in tax arrears from them but to totally shot them out of the country and possibly block crypto sites and preventing access to them. What I just see here is that the government is trying to see how they can rake back their supposed benefit in arrears before coming publicly to state their conditions for her citizens to follow if they would want to deal on cryptocurrency.

[CryptopreneurBrainboss]

So wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

You're right for saying we shouldn't expose our wallets to police officials but that isn't because Bitcoin is illegal in the country but because of how our system is and corruption. The average Nigerian believe that any young person doing well for himself is either a fraudster or into money laundering.

This na why when they see your wallet, they'll have to bring you in for further investigation but if you clean you no need to worry, you just have to know that they're going to waste your time in their custody and if you no ready to dey get case with them, you can pay off the matter but just know say you dun implicate yourself when you do that as you might become their regular visitors.

Blord case is different, he doesn't get invited because he's a crypto merchant but because of his Apps, they malfunction at times and cause people losses which after they report him to EFCC he gets invited.

Also know say when illegal people use your platform and you allow them (since you no go know), you're also an accomplices to their crime and most exchanges in Nigerian are being used by fraudsters, terrorist for funding of their crimes so that one also follow for him invites them.

[Adbitco]

Do you think Nigerian government has accepted Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

This is one problems with Nigerian government even as the highest volumes of p2p trade is from Nigeria and yet they can't still entirely stop everything, and they are looking for just escape goat who will fall on their trap and then they would start their investigation and if any similar or dissimilar that relates with bitcoin or even seeing some form of pictures in your phone then your case gets stronger. We should always learn to keep a working phone at home while we move with a neutral phone to any place we are going.

[laijsica]

Yes it is true that many money exchanges are being held accountable by AML through their activities which may involve cryptocurrency issues. Decentralization makes it difficult to identify many criminals at times. Although the Nigerian government has put various restrictions on Bitcoin, the number of holders in this country is constantly increasing and Nigeria is one of the top 10 countries in the world. I think the decentralized system makes it very difficult for governments to explore Bitcoin or they are indecisive due to the lack of fiscal compatibility with the FED. But Bitcoin has the potential to occupy a huge place in the world economy in the near future.

[Hewlet]

Yes it is true that many money exchanges are being held accountable by AML through their activities which may involve cryptocurrency issues. Decentralization makes it difficult to identify many criminals at times. Although the Nigerian government has put various restrictions on Bitcoin, the number of holders in this country is constantly increasing and Nigeria is one of the top 10 countries in the world. I think the decentralized system makes it very difficult for governments to explore Bitcoin or they are indecisive due to the lack of fiscal compatibility with the FED. But Bitcoin has the potential to occupy a huge place in the world economy in the near future.

I think the context here na say Nigerian government still never get open mind as far as the matter of Bitcoin and crypto de concerned. Them obviously never outrightly ban am or make a statement when de suggest so but them no still de friendly with anybody when still de hold am.

The simple reason go be say them no understand the legitimate means when you de use get your crypto and the one when them understand normally na the usual means of getting it through fraudulent means and na why them de tag anybody when de involved in crypto as a potential fraudulent person.

Even why you're sure that the source of your Bitcoin is legit, still no allow them get access to am then you go come begin de explain yourself. If you don ever meet police for check point when de ready to frustrate you na then you go know say even if na you use your money buy your vehicle and you get all the papers, if police ready for your matter, them go frustrate you wetin no good. Normally we know say Bitcoin no de illegal but for a country when laws no really de hold ground like that, you need to guide yourself real good make you for no fall victim.

[Ishicryptic]

Bitcoin is not banned in Nigeria, but our government's body language doesn't show that they support it, so based on that I will agree that they have not accepted it. The Nigerian government is not Bitcoin friendly yet, their actions towards encouraging the growth of cryptocurrency adoption in the country is very poor, their restrictions of banks to carry out crypto transactions and the restrictions of naira p2p in notable exchanges are some of the proofs. Because of our government's lack of support for cryptocurrency, it has made many of our citizens to have the believe that Bitcoin is what criminals use for money laundering, forgetting that more people use fiat to launder money. It is very unfortunate that people that don't understand the potentials of Bitcoin as a store of value still see it as scam and they will label Bitcoin holders as scammers. It is important that we as bitcoiners in Nigeria, should be discreet about our Bitcoin wallet because of criminals and people that will label us as scammers.

[Felicity_Tide]

So wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

You're right for saying we shouldn't expose our wallets to police officials but that isn't because Bitcoin is illegal in the country but because of how our system is and corruption. The average Nigerian believe that any young person doing well for himself is either a fraudster or into money laundering.

This na why when they see your wallet, they'll have to bring you in for further investigation but if you clean you no need to worry, you just have to know that they're going to waste your time in their custody and if you no ready to dey get case with them, you can pay off the matter but just know say you dun implicate yourself when you do that as you might become their regular visitors.

Blord case is different, he doesn't get invited because he's a crypto merchant but because of his Apps, they malfunction at times and cause people losses which after they report him to EFCC he gets invited.

Also know say when illegal people use your platform and you allow them (since you no go know), you're also an accomplices to their crime and most exchanges in Nigerian are being used by fraudsters, terrorist for funding of their crimes so that one also follow for him invites them.

From my observation, and I guess most people have also observed the same thing, the people that the Nigeria Bitcoiners are having issues with most are the security operatives ( police force to be specific). Now, due to failure of their own system (the police system), some of them have chosen to transfer the aggression on the civilians, thereby labeling any young person who drives a good car, or who is properly dressed a fraudster. This is why, most youths choose to avoid them at all cost, because getting into a conversation with them, where they start questioning can lead to what was never planned for.

[MainIbem]

I think the context here na say Nigerian government still never get open mind as far as the matter of Bitcoin and crypto de concerned. Them obviously never outrightly ban am or make a statement when de suggest so but them no still de friendly with anybody when still de hold am.

The simple reason go be say them no understand the legitimate means when you de use get your crypto and the one when them understand normally na the usual means of getting it through fraudulent means and na why them de tag anybody when de involved in crypto as a potential fraudulent person.

Even why you're sure that the source of your Bitcoin is legit, still no allow them get access to am then you go come begin de explain yourself. If you don ever meet police for check point when de ready to frustrate you na then you go know say even if na you use your money buy your vehicle and you get all the papers, if police ready for your matter, them go frustrate you wetin no good. Normally we know say Bitcoin no de illegal but for a country when laws no really de hold ground like that, you need to guide yourself real good make you for no fall victim.

One thing I done understand about Nigerian government na say them they always look for way to frustrate citizens all in the name of fighting crime whereas na them be the major criminals for the country, if you investigate properly you go see say many of the so called politicians na them dey use Cryptocurrency dey launder money and that's why them never ban am entirely but just dey use the Apex bank they give regulations wey dey affect Crypto enthusiasts for the country. Based on your statement, eh show say Nigeria get myopic people for different arms of government and that's why them no dey see the benefits of Cryptocurrency other than it being used for fraudulent act, eh dey so frustrating because many people for the country they use crypto under regulations without involving in fraudulent acts. The worst people to encounter for Nigeria na police most of them no dey enlightened and them dèy arrest the wrong people all because they feel say anybody wey involve for Cryptocurrency na yahoo yahoo.

[Barikui1]

Do you think Nigerian government has accepted Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

Bro as a typical Nigerian wey we be, I believe say we surpose don Sabi use our tongue count our teeth by now, this question no be  question wey we surpose to dy ask because wey already know the answer, government wey drive away binance and others away from the Nigerian market, even though no body talk anything again about Bitcoin and cryptocurrency generally again, wey all surpose know say them no accept am in any way, them just decide to lie low for now, and if in the process any body come out openly say him dy do crypto, na that time you go know say them never forget crypto matter.

Ok make we look at our traditional banks, till today, them dy still dy freeze anybody account wey them know say him do any crypto related transaction, an even our micro finance bank like opay, palmpay and others don join base on say government give them strict others on what to do wen it comes to Bitcoin and cryptocurrency generally, so my brother make we just dy do our crypto transaction on a low key because our government no ever accept am in anyway.
Then as for our wallet matter, for our own security, we no need advice from anyone for us to know say we fit loose our asset if we no keep am secret, so in essence of everything is that make we try dy on low key, for our own security and safety from government wahala.

[SmartCharpa]

Do you think Nigerian government has accepted Nigerian, the answer of this is No, because theirs no place you can buy something with bitcoin and all the exchanges that is official in Nigerian has been seized by federal government and ban, another thing is that if you have issues with economic financial crimes commission dont show them your bitcoinwallets, there is when you will know that bitcoin traders and investors is not served for using bitcoin, when you're being investigated by economic financial crimes commission is when you will know that everything that relates with bitcoin is called money laundering, so wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

The thing is that our government too dey invest in Bitcoin, we can just be seeing that our government no accept Bitcoin for this country because you no fit buy anything and make the payment with Bitcoin but the government cannot publicly state that Bitcoin becomes illegal in Nigeria. If the government ban Bitcoin it will affect everyone because no be only the youth they engage in Bitcoin investment, all these politicians na waiting dem dey use double their sources of income. It seems like you don't know the kind of president that we elected, anything that will generate taxes, they no go ban am for this country wey we dey so.

Although, all that investigation na money go end am, if they catch anybody that is holding Bitcoin, they will make sure they put another accusations on him, anything that you see that we the youth are doing didn't start from us, even our leaders are also benefiting from it, they just dey use all that to put fear for our bodi. Make we just dey very careful to avoid any behavior that will lead to spending money that we are supposed to use for other needs.

[Nheer]

So wetin I dey try tell us be say make we no dey expose our bitcoin wallets were government people dey, because it will put us into problems, one exchanger popularly known as B-lord is facing challenges of money laundering every three months.

You're right for saying we shouldn't expose our wallets to police officials but that isn't because Bitcoin is illegal in the country but because of how our system is and corruption. The average Nigerian believe that any young person doing well for himself is either a fraudster or into money laundering.

This is true everyone believes that any young Nigerian man who is doing well for themselves is actually into something illegal which is not supposed to be so but then i think we gave then the forum to think bad about us because of our recklessness. Few years back when yahoo yahoo never full everywhere like this those people that started cashing out from it at the early stage were very reckless with their spending and actions, alot of them started misbehaving and were spending lavishly so that was when people started seeing every young person as a fraudster. Na only young person wey never really get responsibilities na em go de live reckless life like that.

Not everyone is into fraud but convincing people will be difficult so the best thing we can really do is to not expose our wallets anyhow to avoid problems because as this country be now everybody de find to take chop and all this police officials too de find how to chop so falling in their hands will be problematic.

[Frankolala]

Bitcoin is not banned in Nigeria, but our government's body language doesn't show that they support it, so based on that I will agree that they have not accepted it. The Nigerian government is not Bitcoin friendly yet, their actions towards encouraging the growth of cryptocurrency adoption in the country is very poor, their restrictions of banks to carry out crypto transactions and the restrictions of naira p2p in notable exchanges are some of the proofs. Because of our government's lack of support for cryptocurrency,

I am not in support of the government action towards cryptocurrency in the country, but I strongly believe there are Nigeria Exchanges that has been legalized to trade crypto. Exchanges like Busha and Yellow card are under Nigeria crypto regulation and if you use them, your funds can be sent directly to your bank account as the exchange Yellow card does not accept online banks like Opay and the rest.

I was using Busha when I was new to bitcoin, but I stopped due to low exchange rate. The problem with our government is that they want to always get a bigger share from the citizens business through task and those exchanges who didn't accept to pay them big amount of money will not accept to their terms and conditions to operate in Nigeria and that is why they are either leaving the country or delisting Naira P2P trade from their exchange.

it has made many of our citizens to have the believe that Bitcoin is what criminals use for money laundering, forgetting that more people use fiat to launder money. It is very unfortunate that people that don't understand the potentials of Bitcoin as a store of value still see it as scam and they will label Bitcoin holders as scammers.

Not only in Nigeria but all over the world and US government are saying often that bitcoin is used for money laundry. All governments don't like bitcoin because it cannot be controlled by them.