Topic: Binance problems with FG intensify (Read 186 times)
When I heard about this, Binance is removing P2P I just completed in my mind that it is a tax Nigeria want from Binance because of the transaction going down between sellers and people buying and selling of coin sometimes Nigeria don’t really understand how future work but it’s all good. They are really knows the government. I don’t really like talking about against them, but they should always have a good future for the country, because it’s not to be there if one of us happened to be the president definitely will do the same thing I know each of everyone of us have gotten in mind that I will change Nigeria maybe the person is going to do better if you are the president but I will totally tell you it is not easy , the only thing I understand that Nigerians don’t think of after effects. we have a lot of extensions a lot of trading platform that’s currently Nigeria is even using and so platform where you can trade and they pay you directly to your account currently now because it’s not popular that is why the government didn’t put their eye on it and .
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
All these actions federal government is taking is all effort in futility, we get over Hundred exchange companies that Nigerians can go and trade their coins. They just want to victimize binance the same way they did to aboki FX. They are blaming every other person for the woes in the economy except themselves. They doing these to binance because it's the most popular, I even read on the news that the FG is asking Binance to pay 10 million dollars for damages, and I'm curious to ask, For what damages.Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
The fact is that, The madness will not stop since the CBN governor and national economic council doesn't know the solution to our problem, so everybody go collect. The federal government even had to detain 2 binance representative that came to discuss with them concerning the issue.
It's very disheartened that our government is taken some step without checking all aspects of their actions, it may be very painful but what pains me most is that our leaders always regret at the end of all their actions due to poor leadership because this biance band will not be far from what is going on in the fuel subsidy which they are having issue on how to control it.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
What I feel that is the problem is related to the selfishness and greed that is actually running their affairs and IMO I feel the federal government just wants to make some things straightened up with this binance exchange because I know their motive is also strike at getting their own incentive from the massive backdoor transaction that is continue going through the exchange as a means of P2P trade. I personally feel all these issues will be meet if binance agrees to actually give person or charges on transaction in their platform that goes to the CBN but I doubt that kind of deal will ever be meet.
You are absolutely right, when the greedy and unreconciled mind are in the corridor of power different things will begin to happen wrongly, the government of this country lacks information and they have been making efforts in their little way to frustrate crypto dealings in Nigeria, in reals sense what will they say that is what prompted their move against Binance, is binance Economic team, it is so annoying that we come from this part of the world that not ready to embrace technology and good innovations, Nigerian government is not ready for any development but rather they are ready to cripple pro peoples innovation, how would a country move this way, it is too annoying to see this happening at this time, but though exchanges are many, let's make our choice carefully.
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https://www.vanguardngr.com/2024/02/breaking-nigeria-detains-binance-executives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
All these actions federal government is taking is all effort in futility, we get over Hundred exchange companies that Nigerians can go and trade their coins. They just want to victimize binance the same way they did to aboki FX. They are blaming every other person for the woes in the economy except themselves. They doing these to binance because it's the most popular, I even read on the news that the FG is asking Binance to pay 10 million dollars for damages, and I'm curious to ask, For what damages.Now I see this link about binance exchange top official being detained.
https://www.vanguardngr.com/2024/02/breaking-nigeria-detains-binance-executives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
The fact is that, The madness will not stop since the CBN governor and national economic council doesn't know the solution to our problem, so everybody go collect. The federal government even had to detain 2 binance representative that came to discuss with them concerning the issue.
It's very disheartened that our government is taken some step without checking all aspects of their actions, it may be very painful but what pains me most is that our leaders always regret at the end of all their actions due to poor leadership because this biance band will not be far from what is going on in the fuel subsidy which they are having issue on how to control it.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
What I feel that is the problem is related to the selfishness and greed that is actually running their affairs and IMO I feel the federal government just wants to make some things straightened up with this binance exchange because I know their motive is also strike at getting their own incentive from the massive backdoor transaction that is continue going through the exchange as a means of P2P trade. I personally feel all these issues will be meet if binance agrees to actually give person or charges on transaction in their platform that goes to the CBN but I doubt that kind of deal will ever be meet.
It's very disheartened that our government is taken some step without checking all aspects of their actions, it may be very painful but what pains me most is that our leaders always regret at the end of all their actions due to poor leadership because this biance band will not be far from what is going on in the fuel subsidy which they are having issue on how to control it.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
We get many exchanges apart from Binance na but you know say na Binance Dey popular pass, many people they wey them use like KuCoin and other exchanges, the reason why the federal government Dey do all this things is because of how they go get money from Binance because if you take look at it nothing concern Binance with waiting Dey affect Nigeria from my own observation, yes I know say dollar price high but no be today dollar price start to Dey high wey be say them go come talk say them wan ban Binance, okay what if the place where they are changing dollar to naira even in Abuja here you go know say na we Dey suffer each other.
From waiting i don Dey observe from federal government, last last na money them go wan collect from Binance because if them wan ban Binance them get some of our rich people wey be say them too Dey hold dollar and them get Binance and it will affect them too , in fact let me just talk say because Nigeria like money and if Binance give them money them go collect and clean mouth and they will not even talk about Binance again, I don’t know how serious the matter take be but due to the way wey me I observe am federal government and Binance go settle.
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
In September 2023, Nigeria's Securities and Exchange Commission (SEC) placed a disclaimer on Binance Nigeria Limited, saying the platform was “neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal
Nigerian authorities say Binance, which isn't registered to operate in the country, caused widespread economic disruption and contributed to the naira's 70% weakening in recent months. the BBC reported
My question is must the federal government always waste there energy and time on inrelevant things when they are supposed to be focusing on how to grow the economy and and create a conducive environment where investors can come in and then job creation for her citizens rather they will be chasing after shadows instead.
God help us and bless our hustle
Yea sorry for the confusion bro. I could have specified the network which I wanted to use. Bitcoin transaction on binance from what I saw yesterday while trying to send my funds back to my wallet was 10$ and it was just a small amount of $50 I had left there ( I've never sent coins from binance back to my wallet). I didn't want to use another network because I don't really use other wallets that supports altcoins like usdt or the ones you had mentioned. If I did, I just had to convert in Binance and then send it out to the other Wallet of which I don't have. For now, I'm trying to register with another exchange. I will leave the funds on balance till I get verified.
And good to know that you are working on getting your funds off that exchange since they are the onesain targeted by the country's government.
If them like make them disable P2P for binance e no mean say guys no dey buy or sell btc before now and dem go far back to how dem don dey deal their on P2P before. The thing about that disabling be say e go reduce some guys income like those wey dey depend on binance P2P on their arbitrage buying and selling. You see that thing wey be Nigerian government problem, dem don take food away from some people now because of their own ineptitude and inefficiency.
It is appalling say dis government never even bring policy wey go benefit the people. I don't know wetin concern binance for the Nigeria wey dey fall. Instead them go begin projects wey go fix the economy then Naira go begin recover them go dey witch-hunt business people.
Refinery wey dem suppose to complete for December, that one no get head, they are suppose to hide their face in shame as they keep looking for what to tie to Naira crashing and forgetting that Nigeria is over dependent on foreign exchange. The other day wey the CBN governor go senate to explain wetin dey happen to Nigeria, him say na students wey dey travel go school for abroad dey cause am as if other countries in Africa don't travel to study. Na funny situation we dey.
It is appalling say dis government never even bring policy wey go benefit the people. I don't know wetin concern binance for the Nigeria wey dey fall. Instead them go begin projects wey go fix the economy then Naira go begin recover them go dey witch-hunt business people.
Refinery wey dem suppose to complete for December, that one no get head, they are suppose to hide their face in shame as they keep looking for what to tie to Naira crashing and forgetting that Nigeria is over dependent on foreign exchange. The other day wey the CBN governor go senate to explain wetin dey happen to Nigeria, him say na students wey dey travel go school for abroad dey cause am as if other countries in Africa don't travel to study. Na funny situation we dey.
The government are making a big mistake which is the fact that they are taking a well renown exchange like Binance with a global reputation as the main reason for the collapse in their economy performance, what they would have thought about is if they stops Nigerians from the use of Binance, what about other exchanges, for long can they do this and sustain it, it other exchanges should follow same, what bout the decentralized exchanges who don't even care if something like government exist.
Binace is not the reason for naira devaluation, If they block the use of binance from here, people can use VPN to access the platform, still make their daily transactions and cant only make use of naira p2p, they have alternatives to using other exchanges in their numbers, the CBN issues this same dollars to the BDC men out there to inflate it, other financial businesses are also taking advantage of this the same way the government is currently manipulating the naira exchange rate to USD now, i want to believe that Binance will realized this as a great loss to their business if Nigerians should shift to other exchanges.
Binace is not the reason for naira devaluation, If they block the use of binance from here, people can use VPN to access the platform, still make their daily transactions and cant only make use of naira p2p, they have alternatives to using other exchanges in their numbers, the CBN issues this same dollars to the BDC men out there to inflate it, other financial businesses are also taking advantage of this the same way the government is currently manipulating the naira exchange rate to USD now, i want to believe that Binance will realized this as a great loss to their business if Nigerians should shift to other exchanges.
It's very disheartened that our government is taken some step without checking all aspects of their actions, it may be very painful but what pains me most is that our leaders always regret at the end of all their actions due to poor leadership because this biance band will not be far from what is going on in the fuel subsidy which they are having issue on how to control it.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
The level of relief in which this investors have done for our nation we will still see their value very soon not just as employers of labour but in many things.
What I just want to say is that any who know the way forward of any exchange that is good which P2P work better can still share because way forward show be the main thing now.
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
The situation is not easy, but good thing is other cex p2p are still functioning. Just DYOR or someone can share their experiences.
You're right, there are other exchanges whose peer-to-peer feature still supports the Nigerian naira. I've been using Bitget exchange's P2P amidst these whole Nigerian government and Binance P2P issue.
partner.bitget.com/bg/07132L
Hmmm, it's a very sad and regrettable act by the the Nigerian government to be taking such a measures , which is totally the wrong thing to do, if people's in government offices were competent in discharging their duties, they would be focusing on how to make the economy better, by doing so, the naira will stabilize and in due time, it will start appreciating against dollar, but this actions they are taking now is just like a time bomb that will get explode one day, even when we aren't seeing any effect it's having on the price of goods and services in the country.
The only thing they will achieve by such measures is to drive investors out of the country, and what surprised me the most about this current administration is that, instead of them to working on the economy which is horribly bad now, they are busy looking for who to push the blame on, which binance is now one of their victim now.
The only thing they will achieve by such measures is to drive investors out of the country, and what surprised me the most about this current administration is that, instead of them to working on the economy which is horribly bad now, they are busy looking for who to push the blame on, which binance is now one of their victim now.
You are entirely wrong with most things you mentioned here, first, binance stopped p2p but you can still transfer your coins out pf binance to you wallet or other exchange, as against what you assumed in your comment.
Secondly binance withdrawals fees is not $10 as you said, because we have various networks with their own peculiar fees, e.g transactions through BSC BEP20 is below $0.19 in fees and the one through solana networks is even around $1 etc so get the facts right and apply the network that less expensive and could serve your need.
Secondly binance withdrawals fees is not $10 as you said, because we have various networks with their own peculiar fees, e.g transactions through BSC BEP20 is below $0.19 in fees and the one through solana networks is even around $1 etc so get the facts right and apply the network that less expensive and could serve your need.
Yea sorry for the confusion bro. I could have specified the network which I wanted to use. Bitcoin transaction on binance from what I saw yesterday while trying to send my funds back to my wallet was 10$ and it was just a small amount of $50 I had left there ( I've never sent coins from binance back to my wallet). I didn't want to use another network because I don't really use other wallets that supports altcoins like usdt or the ones you had mentioned. If I did, I just had to convert in binance and then send out to the other Wallet of which I don't have. For now, I'm trying to register with another exchange. I will leave the funds on binance till I get verified.
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
The situation is not easy, but good thing is other cex p2p are still functioning. Just DYOR or someone can share their experiences.
Well, the matter is as annoying as it is. I hope they accomplish what they all assume with banning p2p I'm the country. The most annoying part is that binance had not informed most of their users before they stopped the p2p all of a sudden. I had little coins I left for spare over there and now there's no way I can take it out. Binance fee for any transaction is above $10. You can't even return the coin now to Wallet. Just few months ago here they removed their restrictions of crypto with financial institutions and now all these.
Secondly binance withdrawals fees is not $10 as you said, because we have various networks with their own peculiar fees, e.g transactions through BSC BEP20 is below $0.19 in fees and the one through solana networks is even around $1 etc so get the facts right and apply the network that less expensive and could serve your need.
Quote
I just hope all these will be over soon because from the way I'm seeing things. Nigeria may never get to grow up as a country any time soon. The poor mechanism of the leaders who I think are illiterates will only cause more harm than good. Cryptocurrency exchanges as nothing to do with the country's bad economy. They are just using their own hands to drive out external investors who may have Nigeria in mind.
Now on this I totally agree with you, Nigeria as a country under the current leadership is still very far from achieving any significant positive change since corruption has infiltrated the employment and appointment process, and this has produced tons of incapable actors in the financial market and management of the country economy. I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Well, the matter is as annoying as it is. I hope they accomplish what they all assume with banning p2p I'm the country. The most annoying part is that binance had not informed most of their users before they stopped the p2p all of a sudden. I had little coins I left for spare over there and now there's no way I can take it out. Binance fee for any transaction is above $10. You can't even return the coin now to Wallet. Just few months ago here they removed their restrictions of crypto with financial institutions and now all these.
I just hope all these will be over soon because from the way I'm seeing things. Nigeria may never get to grow up as a country any time soon. The poor mechanism of the leaders who I think are illiterates will only cause more harm than good. Cryptocurrency exchanges as nothing to do with the countries bad economy. They are just using their own hands to drive out external investors who may be having Nigeria in mind.
Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https://www.vanguardngr.com/2024/02/breaking-nigeria-detains-binance-executives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Now I see this link about binance exchange top official being detained.
https://www.vanguardngr.com/2024/02/breaking-nigeria-detains-binance-executives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
Jump to: