Topic: Bureau De Change Asking Government to Ban Binance to Save Naira (Read 317 times)

Sometimes I dey wonder how our leaders them dey reason sef. Bureau De Change dey tell federal government to ban binance to operate make dem no devalue the naira. Me I come dey ask dem question whether binance dey for Nigeria here? E get anything wey binance get to do with federal government?
As I dey read the news I just dey imagine the person wey dem put as the head of Bureau De Change agency and him capabilities. Na these kind of people dem wey no Sabi anything for finance when it comes to monetary policies. Just imagine wetin him dey glamour for wey other means of channelling him incapabilities dey.
As far as I am concerned, federal government can do nothing to binance as they have no presence here in Nigeria. I was also wondering if federal government can as well stop p2p if they can which is Impossible. So they should stop wasting their time and focus on building the economy of Nigeria to a sustainable level for all Nigerians.
Nigerians always have  their ways and I believe what ever be the resolve from federal government, it would not bother Nigerians into crypto as every alternative means of survival in the industry would definitely be available.

Guys dis matta strong oo. Bureau De Change e no see any other thing to do again na Binance wey e no do dem anything n dem wan ban. I also laf at dem. Me I strongly believe say for dis Oga Tinubu adminstration, e no go happen, Tinubu e no go listen to dem oo. Dem go try but e no go work for dem. Na jealousy dey make dem dey tok dis kind things wey dem self no say e no go work. Tinubu likes good economy plan and not all these nonsense wey Bureau De Change dey vomit from their mouths.

I don't think Binance can be ban in di country again because the first attempt was failed when Nigerian SEC says day Binance dey operate in di country illegally and till date, me, I don't know how dat matter was solved. I don't know why binance became a threat to Bureau De Change, I believe sae Binance dey do well pass dem so dem want to remove it and take over but dat one e no go happen again. Let Bureau De Change do well in their services like Binance then do competition will just start.

You are correct. Nigerians are benefiting from P2P and also benefiting from cryptocurrencies in one way or the other. No matter what, these will indirectly have positive effect on standard of living in the country. ABCON is not correct about this.

But the government needs to implement ways that these exchanges are taxed. Not only Binance, there are many of them. If possible that they can force the exchanges to have office in Nigeria and employ Nigerians as workers. This will help in creating employment and add something good to the economy.

Our frustrated country no see people to put their problem on, them wan carry am put for binance head say na them cause wetin wey our economy dey crumble. Like if I get correctly what concerns binance and our country failure if our country refused to make things better for themselves, why must they ban binance or cease their operation?
They should look for their problems and sort them out and leave binance out of this crisis, I guess not only Nigeria Binance is operating there are other countries where Binance is operating and yet their economy is doing pretty much better than us does it mean that they have ban binance from operation or cease them in any way? No because I know they are pretty doing much better than us and are making progress so why would they ban them from operation. Please, lets say Nigerian leaders are already frustrated and looking for whom to channel their blame on, and I know Binance is not our cause.

Them say when the blind lead another blind man, na gutter get them o.
Omo, we don enter gutter like this for this country o, even as people way dey see road like this. When we con dey lead by a blind man way don allow in greed use scale cover en eye finish, na so so gutter we go just dey enter.

Imagine Tinubu don dey make us miss Buhari o, when we think before say we don see am all. Na just one casted idea after the other these people just dey come up with.

Instead of them to think of ways to tackle the competition, na to remove the competition be there best solution. My country my country!
Watin dey promote development na production, increased export and reduced import. Why them no fit just dey reason towards being more productive and maintain the existing institutions...

Make them better mind watin dey sup the Africa o, Niger go trend, e go trend.

This is what other countries are using to eliminate inflation, and help their youths to grow higher in wealth in their countries but in Nigeria we see it as the cause of inflation in the land which is not true, if truly the government can go into a proper research to know what binance really mean to a country that adopted it for their exchange. I don't think government will give ear to Bureau in this information because I believe there are some young talented digital currency users among the government officials that will tell the government never to listen to that fake allegations against binance in the country because the binance is part of some of the things the youths are using to sustain in this hardship in the country.

I think if government ban Binance, they will be mandated to stop Nigerians from using their exchange. Unless you never used Nigerian documents to do your KYC, that is the only way you can use the exchange. Our hopes and prayer is that they should not ban Binance....

The Aboki FX we're be chairmo of the Bureau De change sef get issues with government since before the end of the last administration so their statement is just one out of many failed attempt to attack competitor,  but taking the attack on Binamce is way too big for them,  because them na local exchange them de run but binance ba global level.

Quick question,  that Aboki FX app person fit buy and sell there,  or na just price tracking tool them be,  to be sincere with you,  I never used or visit that site before,  because the name na big turn off for me.

Cryptocurrency exchange like binance os not easy to pull down and I am not worried a bit because na the usual way this.

When Aboki FX dey, binance too dey but the thing be say binance don too popular now wey be say even kids of barely 12 years wey dey see their uncle run btc parole don sabi binance but no be CZ fault na, him arrange him exchange well with enough activities of any kind relating to crypto. Coming to Aboki FX, I think say Dem say the app na bad belle say e dey review the current price of Naira to dollar and whatnot, now Dem want face binance.

The problem be say the people wey dey run Nigerian government too corrupt, even though if angel dey among them, dey will still corrupt am. Make we just dey see the bow and go wey dey happen for Senate. How many of the people wey dey for government fit talk like Julius Malema of South Africa.

Them no sabi say if all the indices wey go help currency strong no dey, na south south remain for the currency  Make dem still dey consume and no try fix production.

Dis kind things e no dey shock me oo, because dat government or di parliament e dey full with bitcoin illiterates and dem know no di important of bitcoin so dem dey do weti dem like and not weti the people want. Na so CBN go tell Buhari to take instruction ban bitcoin in banks because he was also an ignorant of the bitcoin technology. Anyone wey dey plan to ban bitcoin and it exchange platforms is not a friend to the Nigerian youths and against the development of the country. Di mata how dem try dem no go fit stop bitcoin in the country.

Truly those who are in charge of affairs in CBN are clueless they  knew less about the economy good to know that the present CBN governor is a mechanical engineer on August 11th held a press conference link blaming the Diasporans for the naira free fall so it is now a crime to receive money from our beloved ones living in abroad, Bureau De Changers is blaming Binance while CBN is blaming Diasporans and some local banks.

If government like make them listen to those Bureau De Change people wey said make them ban Binance that one na there problem because Binance has come to stay we go still dey use VPN run am thank God say transactions na anonymously, trust Nigerian youths now them know how to bypass anything, wetin consign Binance with naira depreciation and loss of value instead of those Bureau De Change operators to digitalize their operations using P2P make them enter competition with Binance they come dey talk rubbish, they no reason am when CBN announced floating of Dollar against Naira which cause naira to start falling because we are important dependent country.

Wait isn't this the same Bureau De change the people EFCC was going after when the dollars vs naira crisis was at the heat of it towards the wnd of rhe last administration how then their organization is now advising the government on what to do, as far as i know this is just a sarcastic statement and reading through fhs article link, i discovered that, the aim of this was not to attack cryptocurrency users but to create way for their business to tthrive in the local market.

Since Aboki FX was the major parallel market decider before the coming of other foreign exchanges like Binance and other crypto exchanges, Well i don't also see how this could yield any positive result that can affect finance operations but then also this could call for more regulations of centralized cryptocurrency exchanges with the aum of taxation.

If Binance is banned in Nigeria then accessing the exchange with a VPN from a banned jurisdiction is against Binance T & C we hope it doesn't get to this point.

The fact that every new CBN Governor in Nigeria is usually worse than the prior ones is worrying; I believed the new one had a nice system in place before implantation with all his Naira/dollar trade unification ideas, but I was wrong; everything is now a shambles. The banks are weakening the Naira, but na the innocent Nigerians dey always take blame. Lol

I don begin use binance p2p very recently and trust me, for the few times I've taken time to trade there , I just dey imagine and regret wetin I don miss since all this years, wey I for don dey trade there since they make better profit.
Those bureau de change guys no serious at all, if according to them, binance p2p dey put pressure on the naira, why USA or Europe no dey complain about the same thing for their US dollar and Euro 💶 respectively? Abi those currencies no dey for the same binance p2p trading platform?

They should ask our Nigerian government to work hard and fix our economy, not encourage them to keep chasing shadows.

Nigerian government no go fit ban Binance P2P, dem fit ban Binance exchange but not the P2P, Binance exchange self no get license to operate for Nigeria (I believe dem no get head office here) so no how wey government wan ban dem unless dem go ban Nigeria IP (through the network providers) just as dem ban Nigeria IP from accessing Twitter few years back but dat one no mean say we no go fit access am as boys go run VPN continue our hustle. Make we leave dat side enter the impact of Binance P2P on the market, you know know say Binance P2P get one of the highest volume of dollar to naira trading for Nigeria and there's no how e no go get effect on the general market.

Binance exchange rate too high, those marchants dey run us street for that platforms. While Naira for black market fit dey trade example, 700/# Binance marchants fit dey run their own 800/#. But I no still support the banning because as you talk e go take away means of livelihood based on how people dey trade dey get small small funds go cum hard. Nobi everybody sabi use VPN so some people go go dey patronized all this local marchants and yahoo boys go use dem cashout. Instead of banning, make dem go into research see how dem go make both parties work in harmony and bring about the best experience to Nigeria because but crypto and forex exchange are here to stay and e no make sense to commot food for Nigerian mouth as dat one mean say you dey welcome back crime for the country be dat.

Note: Binance P2P isn't actually a P2P but a centralized trading between two different individual and there's no guarantee you aren't trading directly with Binance self.

I no understand wetin Bureau de change dey talk about, how Binance take affect Naira wey them dey talk about. These people no see Tinubu to tell say why him remove subsidy. It is very annoying to see say people wey dey our offices claim to know and them no know anything. I believe say e dey pain them say most people dey use Binance do their to trade and them dey confirm am say Binance dey deprive them from much funds na e make them dey player hate. Abi them no know say the high cost of dollar na base on inflation abi make them go sleep and tell small children say exchange dey depreciate Naira.

BDC people just dey find excuse to give - crypto no dey affect their business. Them no just dey happy say crypto merchants dey benefit from naira hyper rise when the standard "unified" rate is a lot less than the rate available for crypto P2P. Na the same way people been dey call for black market rate to be banned.

If Binance P2P is banned for Nigerians, trading can continue off-chain and off their platform but the thing be say e go include some trust issues which is not necessary for Binance P2p (no need to trust the buyer/seller prior to the trade).

What? That means they don't know weti dem dey do for their office. Binance wey dey their own dey do their business dey go. I no even know how Binance come dey affect our naira wey CBN dey control, abi dem just wan to remove Binance Exchange company from di country? Because wen dem wan do something like that dem dey use things to accuse dem.
Di people wey dey devalue our naira na even di Bureau De Change because dem no dey do well in the forex stock exchange. And na di stock exchange dem dey use dey devalue our naira anyhow. So those people wey dey there need to be removed and replaced dem with experts or day unit need to be closed because dem no dey help any matter there. Now today I dey see sae naira don climbed #917 to $1 what nonsense bi this.

You can imagine the inuendos and how carlous they are causing nuisance all in the name of leadership. The last time I checked it was a funny bill they were contemplating on named "allow the poor to breath " and here again the senate President committing blunders on the 3rd highest seat of the nation. What a miasma and a terrible lacuna.
We just have confused set of humans leading the affairs of the nation on auto pilot mode. Ahead ahead without any remorse.

This news also shocked me when I see am for person WhatsApp status but that notwithstanding, is it Binance exchange that causes our fuel increase or is it same Binance that is causing our economy downline?
This is crystal shows that those agencies are sets of confused people who doesn't know where factor our economy downfall because where in a way they had given an incompetent leader a mandate to rule and governed the country what did they expect to be the out come, when P. M. B (President, Mohammadu Buhari) was on set we saw how our economy was crumbling we thought he is not doing well so, we all learned our lesson hoping for change to come, after which his regime came to pass and we couldn't factor our that if we elects another doom in same seat we could experienced something more strange and difficult in our country and yet some sets of foolish adults and when ahead to organized themselves to manipulate election results in order for their selfish party to be in authority without knowing we need to restructure our country and economy. Now we are facing serious rise in dollars and they planned to ban Binance as how ?
Is Binance the cause of dollars increase or what?
Okay, why not Ban the Aboki's who are selling in the black market or is it because if they ban Aboki their business has came to end or what if I may know.

In fact there are some things we need to vote for before taking final decisions as I believe Binance exchange is not our problems rather the Government is our problems. When a man is so much desperate of power this is what it turns out to be because what I can factor out is incompetent of leadership. And people think he would spent billions of Naira to achieve the seat without him working to cover his expense?
No this impossible because I know that is something very important in his life because nobody do like to involved himself or herself to a profit and loss business.