FG don pass law way recognize Bitcoin

[Y3shot]

This wasn't the reason why the law was pass, the government has been looking for means to legalize cryptocurrency for the long time and small small them been dun they shift their view on cryptocurrency from being negative to positive and also looking for means to tax companies that they can tax to make some revenue from these companies them.

This is also my thoughts, the Nigerian government like many other government won't make any law that won't benefit them. The Nigerian government has seen that no matter what they do crypto-currency is always ahead of them now they are trying to accept it only just for their benefits.
There are a lot of Crypto-currency linked businesses, companies and organizations in Nigeria and placing a tax on Bitcoin activities will surely rack home good profit for the government, for me it is not becoming a case of if you can't beat them you join them and find a way on how it will benefit you and this is the vibe the Nigerian government is giving off.

This is what we have been waiting for. Before now, they didn't see the benefit of cryptocurrency, but now they understand it and have seen the benefits. If they are accepting it because they want to benefit from it, then it is not bad. Other countries that are accepting cryptocurrency and adopting it as legal tender and establishing reserves in cryptocurrency are making these developments because they know there are good benefits to accepting cryptocurrency and Bitcoin. My only fear is that whatever our government decides concerning cryptocurrency, it should be well managed so that it can be productive.

[asarfiar]

I would think for this type of news it would be more concrete if it’s coming from a Nigerian news outlet. I am not doubting the source but I haven’t read anything like this coming out of Nigerian news sources I still stand to be corrected on my stand.
Let’s be honest people are still going about with their bitcoin activities even before this news that is to shows that the Nigerian government can’t stop the growth of cryptocurrency in the country.

Cryptocurrency is currently accepting almost the whole world Many coins, starting from Etherium, Benance and Bitcoin, are spreading around the world. But Bitcoin is the most talked about in all these coins Although the government has no permission about Bitcoin in Nigeria and no legal action is yet to be taken. But the people of Nigeria are accepting Bitcoin very well If the government wants to stop the people about Bitcoin.

I think Bitcoin will play an active role in providing a man's money The investment that a person has been operating in Bitcoin for 8-10 years will surely be able to meet a person's economic needs. I am saying from my real experience that a low -paying man is not financial before taking Bitcoin He was worried about his family but after receiving  Bitcoin, the tide of joy is  floating in it. He knows today a little investment will give me a high profit within 8-10 years that I will be financially self-sufficient in addition to meeting my family's economic needs.

[CryptSafe]

Saw this update a while ago and it has to be the best news for people into crypto currency in Nigeria..for a very long time the government has made the use of crypto a scam and Bitcoin wasn't recognized in most parts of Nigeria..I'm not surprised at the sudden change, after doing a little check they must have seen that they are lots of futuristic potentials about Bitcoin.. however some people are saying that they only made Bitcoin and some other currencies so they can put all the money they embezzled into it.

It is good that the long-awaited approval of crypto transactions in our country was finally a dream come true, and I must commend the leadership for such insight and intervention.

We know that anything in our country can be tailored for multiple purposes, so I do not doubt what you have said because anything can happen. The idea of them putting their embezzlement in bitcoin is not far from the truth because they would like to have sole country over their assets as it is one of the functions of cryptocurrency and nobody can get hold of it except them but the truth is that from the transactions, they can be traced or tracked to their final destination as there are technology that can be able to do that and I believe more technology are been produced for that purposes.

[sokani]

I would think for this type of news it would be more concrete if it’s coming from a Nigerian news outlet. I am not doubting the source but I haven’t read anything like this coming out of Nigerian news sources I still stand to be corrected on my stand.

I was thinking the same. I have searched for the news from different official outlets and I have not seen it on any reputable media channel as yet, when you compare that with the news of restrictions in use of cryptos they were published everywhere at the time and easily verifiable.

Here's a link from a reputable Nigerian source:
https://businessday.ng/markets/article/nigeria-recognises-cryptocurrencies-as-securities-in-landmark-legal-shift/

The day op posted this news, I searched online and I saw that Businessday also reported it. I thought it could be breaking news and in time other reputable Nigerian media outlets like The Punch, Vanguard, This day, Premium Times etc, would also publish it on their websites, probably after verification. However, I'm surprised there are no reports from them yet. It gets me thinking if this info is credible because news of this magnitude should be reported by all popular Nigerian media houses by now.

[Mpamaegbu]

FG don pass law way recognize Bitcoin

I don talk dis same thing wey I wan repeat here for wan of awa threads like dat, and my yarn be sey make una nor loose guard on d matta come carry una whole bodi give dis politicians wey dey lead us. Tomorrow, dem fit talk odawise. No dey loose wit ur crypto dealings. No put anything cryptos for any P2P wey you dey do. Make bank nor go clamp down on una tomorrow. Dis govment na magic dem dey do.

This wasn't the reason why the law was pass, the government has been looking for means to legalize cryptocurrency for the long time and small small them been dun they shift their view on cryptocurrency from being negative to positive and also looking for means to tax companies that they can tax to make some revenue from these companies them.

You sabi sey awa govment na copy copy from the US. As dem don see greenlight from Donald Trump's govment on how supportive his administration go dey towards Bitcoin, Naija don rush join d queue of Bitcoin loving kontries. Funny indeed. Make we sha dey careful.

[Pokapoka124]

FG don pass law way recognize Bitcoin

So as we Dey round up the mouth of April, following the plenty kata kata way CBEX bring to our Nigerian people way plenty persons loss their investments, business money, loaned money and even money way them generate from property way them sell just to invest for CBEX. The thing don make FG to turn ear towards these kind of schemes to say no and even sef, them con Dey try look digital assets and cryptocurrencies way be Bitcoin amongst others to make sure say, Nigerian citizens Dey get am right.

This na speculation, Federal Government nor go dey pass law like that. Nor be CBEX be the first Ponzi scheme to use usdt and crypto tay scam Nigerians. Which day CBEX happen wey e go be because of am nai go make federal government change their stance on bitcoin to a positive one. Even sef CBEX case na negative matter for where crypto dey.

I nor trust this government anyday, them be like snake. Na Wetin go benefit them and their private business them dey do.

[Mate2237]

This is a welcome development as  the issue of legalizing crypto currency was over due in the country I think that politics and interest has been the biggest challenge that has been hindering this bill so this will be a new chapter in the world of crypto currency in Nigeria because Nigeria is one country that is has the highest crypto currency adoption rates in the world so legalizing crypto was necessary because doing that will have a positive impact on the crypto community in the country.



One thing about Nigeria is that we are good in making laws but implementation is the problem so government should not stop at the level of passing laws but should take steps in investing in Bitcoin as a country this can be done by having a bitcoin reserves just like America and other countries are having as it will be a good one for the country

[Sonia_123]

FG don pass law way recognize Bitcoin

So as we Dey round up the mouth of April, following the plenty kata kata way CBEX bring to our Nigerian people way plenty persons loss their investments, business money, loaned money and even money way them generate from property way them sell just to invest for CBEX. The thing don make FG to turn ear towards these kind of schemes to say no and even sef, them con Dey try look digital assets and cryptocurrencies way be Bitcoin amongst others to make sure say, Nigerian citizens Dey get am right.

Nigeria remains one of the top cryptocurrency innovative and adopting nation, even as the government never really open road say eh, make we Dey use am as we please. Our government stands no Dey ever Dey clear on this matter since them no ban am, neither them been really recognize am but, e be like all that one wan begin to change.

So, following update on digital assets on cryptocurrencies, FG don pass into law to recognize Bitcoin as securities. President Tinubu sign this act just last month for cryptocurrencies to Dey recognized.
You fit read more on this update for here:
https://www.forbes.com/sites/digital-assets/2025/04/30/nigerian-gov-passes-law-recognizing-bitcoin-as-a-security/

I really Dey happy to hear about this development for our country and e go be one way go encourage people way been Dey fear to welcome cryptocurrency and take up Bitcoin investments. Although, e pose certain wahala via say,

SEC go Dey look to control everything, especially at the exchange level and any cryptocurrency companies way Dey functional in Nigeria. Make we also no forget how this current government Dey wan tax gain commot inside everything but, even that one no be big matter shah.
Cryptocurrency na currency way be say, we Dey use enjoy privacy and being anonymous, among others benefits. If government Dey involved the way them want way be towards regulation, na em be say, we no go really Dey enjoy benefits way follow for the privacy side be that o. As exchanges go Dey leak information to authorities if no be watin them Dey do already.

Then again, how them wan take Dey classify undeclared or Bitcoin them way no run through recognized or licensed exchanges…?

Watin really be the possible benefits and
Challenges way this law fit bring or face as you see am?

Na the matter way I bring for una be this my people, make we talk am…

Dem just dey take that one deceive people so that dem go fit arrest those boyz wey wan live free ,Dem no dey trust naija government, dem fit just announce to catch people because this government no wan take eyes see sey the youths dem dey gradually get money, Dem no dey run after them and dem see sey money dey see sey them dey still make am, for me I no trust our naija government, e for beta make we still dey pipe low anywhere wey we dey.

[osasshem]

Then again, how them wan take Dey classify undeclared or Bitcoin them way no run through recognized or licensed exchanges…?

Watin really be the possible benefits and
Challenges way this law fit bring or face as you see am?

Na the matter way I bring for una be this my people, make we talk am…

Well, this matter fit de look like joke, but e carry seriousness full body well well. We know very well say this awa leaders/government de poss serious charges and tax/vat on us, almost on anything way relate to money transactions with all forms of bank wey de wi country, and the same thing go continue if dem come into the legal use of Bitcoin and exchanges as well. To me, I no sure say possible benefits go de to compare with the challenges we go face for the crypto community.

When Bitcoin and related crypto currencies never de generally accepted, we know say the anonymity no give us any issue, but now way we wan start to experience transparency, EFCC and CBN go start to put eye more into bank transactions, and this one go affect us in time to come, but I know say the smart people go get way out.

For me, I for prefer say exchanges no even come into the country, make we de use the normal foreign exchanges alone. This thing dem wan do na to continue their normal ways of restraining people from financial freedom, and I know say boys de wise up on daily basis for the internet.

[EarnOnVictor]

It's simple, Bitcoin wins, Bitcoiners win, but FG lost. Upon their sakara for years, building panic in the minds of Bitcoiners. Till today, Some banks apps still warn that they will freeze the account if you deal with cryptocurrency. I guess they need to overhaul their system...lol That's the result of the government's folly, instead of gaining through crypto, they decided to make it their enemy. But in the end, we win!

FG don pass law way recognize Bitcoin

So as we Dey round up the mouth of April, following the plenty kata kata way CBEX bring to our Nigerian people way plenty persons loss their investments, business money, loaned money and even money way them generate from property way them sell just to invest for CBEX.

They must have learned, but it's unfortunate they learned the hard way, I learned mine during the MMM scheme, all na Ponzi.