Topic: Early Sign to Adopt Bitcoin by Nigerian Government (Read 521 times)

The reason why some people adopt bitcoin and some other countries is because of they have seen that yes bitcoin is very important and other countries around them or surrender them have been accepting bitcoin and there are seen a lot of profit and changes that is coming from those areas so I believe that this coin will dominate the world in 40 years time because of when people research of the important and understand it they will like to invest on it

I know that Bitcoin is the king of all cryptocurrencies in Nigeria, just as it is the king of all crypto in the whole world, but this news is definitely not purely on Bitcoin. It didn't even mention Bitcoin at all. It only mentioned CSW's fake Bitcoin. That's not Bitcoin; we all know that.

Also, blockchain isn't Bitcoin and Bitcoin isn't blockchain. Bitcoin uses this technology but they're not the same. So when your government speaks of blockchain, it doesn't necessarily refer to Bitcoin. For all we know, the rest of the 20,000+ shitcoins also use blockchain, governments also use blockchain, private companies also use blockchain, and so on. But they're not necessarily using Bitcoin.

They would %100 be doing the right thing because crypto is something every single government needs to figure a way into. That doesn't mean that they need to accept its face value, they could end up putting some regulations and laws around it and make it as comfortable for them as possible, and tax it accordingly as well but making it legal that's the important part.

The difference between doing anything you want but trying to avoid the government because it would be illegal versus doing only a limited amount of things but being legalized by the government is huge. In one of them, you can do your wishes, but you are afraid of getting caught and that's terrible, on the other version you do only what you are limited to, but you can do it with ease of mind and that's the key.

The Nigerian government has made a fantastic step in the direction of widespread acceptance of bitcoin. Nigeria has consistently paved the path to lead other African countries in innovative concepts like this one. The youth of Nigeria, especially the unemployed, have a chance to seize this and create something positive of it. If other countries can embrace initiatives like these that provide bitcoin widespread exposure, as Nigeria did, then bitcoin will soon be accepted everywhere, not just in Africa. I'm hoping this initiative will be successful.

It's more like audio announcement to me by the Nigerian government which won't stand taste of time, as you stated the upcoming election had made governance not to function properly, the government negative perceptions on cryptocurrencies is on course where banks are monitoring every transactions that is linked with cryptocurrencies in a bid to flag and freeze those accounts as directed by the same government that wanted to train 30,000 youths in blockchain, let the government through the CBN governor make a statement to lift the ban on cryptocurrencies then crypto enthusiasts will start taking them serious.

I don’t know about other things, but whenever I try to do P2P deals, I find Nigerian people everywhere. This proves how much Nigerian people love the coin. It’s sad to know that Bitcoins are currently nor regulated yet. Nevertheless it’s great news that the government has finally thought for the benefits of the people and taking the positive step to solve the economic problems. Moreover Blockchain teaching will also lead to an impact on the people of Nigeria. Let’s see how far this initiative goes.

Nigeria being the biggest country and largest economy in Africa should have even be ahead of every other countries in terms of adopting Bitcoin and cryptocurrency, The Government of Nigeria should have looked at the advantage/benefits and the urge of its citizens to get involved with Bitcoin, should have adopted and regulate crypto, train youths that are interested in learning Blockchain technology.
why ban crypto initially?,  and now want to train 30 thousand youths, I think Nigeria is a confused state.

You have been on the forum for 11 months and you should know some things, right? If this education really goes in the direction in which it seems to be going, then a lot of people in your country will be greatly mistaken about what Bitcoin is and what bitcoin forks are. Maybe that's the key to this story, because your government has nothing against a centralized shitcoin that has Bitcoin in its name and is manipulated by only a few people.

The real reason for some countries to adopt Bitcoin should be to attract more crypto capital in the past, which is a great advantage to the country's financial economy.

Thank you mate
This was my initial thought when I heard of this article posted here, it was same government who didn't allow her citizens to involved their selves with bitcoin transactions are now today making an announcement to train about 30k young nigerian about blockchain while the current problem issues at hand have not been resolved how do we think all this promises are legitimate, even to know there's something hiding because of their interest on election around the country and this action is being carried by the current administration due to some personal reasons and political gain and interest. They should clear the air and support bitcoin transaction before they could further trained 30k young people in London.

The fact that the Nigerian Government is not doing very well or keeping to its words doesn't mean it can afford to train such a large number of people.
Remember how Nigerian youths are given them pressure regarding Bitcoin legalization and to some extent, the government is not fully against Bitcoin is just that they are lack behind in terms of Technology which is why they need to be well prepared before initiating it, and NITDA is there to support the government which is why I think they are trying to train some of the Nigerian citizens maybe before Bitcoin legalization.



We are always hopeful for change, even if we know it will take time. I believe this is also part of politics, but NITDA is not like other agencies that we believe do not follow through on their promises. Under this administration, NITDA has successfully completed various sets of training for Nigerian youths while also equipping them with the necessary types of equipment to support the trainees. As a result, I am confident that this Blockchain training is a step forward by the Nigerian Government in providing adequate knowledge about Blockchain technology and Bitcoin to its citizens prior to Bitcoin legalization.

This is a very good ideas for government making arrangements sending specific number of people outside the country for training to know about Blockchain technology and how it works as a digital assets payment, and way forward to resolved the country economy crises over the Nigeria local currency that has been on Bull Run NGN/USDT on trading chart. (1Dollar per 860 Naira) as of today exchange rate.

I will take this report more seriously when I see the Nigerian government taking real steps to support bitcoin, for a country who has a active ban on bitcoin p2p transactions I find it amusing that they would be genuinely interested in training 30,000 people in cryptocurrency. There are so many reasons why I doubt the sincerity of the government, it’s election time and the current administration will be looking for ways to capture the heart of the masses, this sudden positive interest in cryptocurrency is suspicious and the promises will not be met. El Salvador made bitcoin a legal tender without publishing plans to “train people in blockchain”. I think the Nigerian government should be more proactive

Okay bro, well truly that is what OP said, but from the article that he linked there was absolutely no mention of Bitcoin in the plans, it was all about just the blockchain technology, and to even make matters worse they mentioned Bitcoin Satoshi Vision (BSV), which definitely isn't Bitcoin, thus i prolly don't know if they do not know the two coins are different, or if they are actually interested in useless BSV.
Well i can only answer from the information i have gotten from the article that was linked, here are some excerpts as to the reason for the training:
Thus from the above i prolly might have been wrong with my initial comment, and maybe they actually have plans for implementation, but with the Nigerian government you just never know, we'd have to wait and see!

If this will be published in more credible sites like maybe their government portal itself, then, we may believe the possible truth on this.
Otherwise, we can't tell the authenticity its contents though it is coming from bitcoin.com and written by an African journalist also.
But if in case, why not? It is for the good of the crypto market. So all kinds of developments are open to us.
If they can push thru this kind of initiative, maybe, they can help some of their younger generation to survive and change their path for the betterment of themselves.

 Aside for the so called advertisment of radio Nigeria I dont trust the source of the information. I dont see the government making crypto regulation soon. I also think this is coming out at the moment when money laundering is everywhere and money might be moved into wallets. I learnt many wealthy people are looking for some poeple to hold their fund against be efcc pursuit lately.

Though i am yet to read the full news from the link Op shared, i have it opened in another tab though, my initial comment was based on the information about the news OP shared, you can see clearly from the screenshot above that OP said the Nigerian government are willing to train up to 30k people in blockchain, specifically Bitcoin.
Like i said, i have the full article opened in another tab but have not gone through it, my comment was based on OP's comment.



LoL, you see why I said Nigeria has one of the funniest government in the world?
why then are they going to train 30k person in blockchain technology is there are absolutely no plan to implement the blockchain technology in any sector of the country's economy?
Isnt this another waste of public funds? (well, to the general masses, not actually to those that are trained)

The government of Nigeria has taken on a new dimension by showing interest in the training of 30,000 youths. With bitcoin taking on a new form in the nation and other African nations beginning to consider giving it a chance in their own country, Nigeria's advancement in blockchain technology is exciting. I admire the objective that the government has set for the nation to become the leader in blockchain in Africa.

Whilst i'd agree with you that it is indeed a funny government we run here in Nigeria, but going by the news and understanding that the federal government of Nigeria hasn't mentioned Bitcoin in any of its plans, thus the whole scenario becomes clearer, though the relationship between Bitcoin and the Blockchain technology is interwoven, the Blockchain technology can be applied in other fields, and it is prolly in relationship with these other fields that the government of Nigeria would tailor this lectures to, as they are not budging on their stand towards Bitcoin.
I'm afraid it won't do anything to the economy of Nigeria, neither am i sure there's talk of any implementation of the Blockchain technology in any sector in Nigeria.

The Nigerian government is one of the funniest government in the world, they planning to train 30k Nigerians in blockchain technology meanwhile banks in the country are still banned from processing cryptocurrency transactions..

Anyways, its a step in the right direction, Blockchain and bitcoin is the future of money, the nigerian naira has been on a free fall lately, almost reaching 900 naira per dollar, and some persons are expecting to see the dollar at 1000 naira before the year 2022 comes to an end.

It is my expectation that this move by the Nigerian government will bring a major boost to the economy of the country upon the end of the program and implementation of this technology into the country's monetary system.

That's a good sign and development if it comes True but i am expecting some country which can play more important role in Bitcoin adoption on local level let me figure out some these countries EU countries by full fledged support to Bitcoin openly that will be massive development. China, India, Bangladesh, Pakistan and any other major country oohh one more thing we can't forget the market capital dominators Middle East as it is most easy for them to do as they are not under any political pressure.

Looks like Nigeria is all set to become a crypto haven. Just like Asian countries took advantage of the technological revolution, I think Nigeria wants to take advantage of the crypto revolution and want to train its Population in advance for this. This is a great thing as you would see a lot of crypto startups are looking up locations to open up their offices and most of them find Islands like Bahamas or Malta which obviously aren't considered very legitimate by rest of the world which is why Nigeria can be a new hotspot, it'll be dirt cheap and with such good human resource it will be quite impressive as well.

Well I can't say anything for now again, because I am still on the learning process, Bitcoin is deep to know all, but one thing I also understand is that before a National Agency planning to carry out a training with such a large number of people, at least they might have known what they are doing if really they want to carry out the programme and not for deception.

We are all praying that in a good government they should implement it.

i am african and i live in africa i need to separate things, from what i understand the nigeria government is adopting blockchain technology they are not telling or urging people to buy bitcoin or are they not urging people to use bitcoin as a method of payment payments in nigeria, if the nigeria government were interested in mass adopting bitcoin in nigeria they would be focused on passing laws that benefit bitcoin, they would be campaigning for nigeria banks to allow exchanges to have nigeria bank accounts, the government would be By encouraging stores to accept bitcoin as a payment method, the government of nigeria would be striving to put bitcoin ATM in nigeria. in Africa it is very difficult to understand what these dictatorial politicians want for the country's future, they only think about themselves

I guess, this is a welcome development many Nigeria citizens have been waiting to see or hear from our potential leaders to make Bitcoin legalized in the land, so that the bitcoiners in the country will start experiencing good things from Bitcoin and their businesses in the country. Infant, am the happiest person in the whole world, because some of us has met the Nigerian politicians to find way to make Bitcoin legal in the country so that it will reduce unemployment and fraudulent activities in the land, which they accepted and promised the Nigerian youths that before the end of this year 2022 they will give Nigeria citizens a good training about Bitcoin and other cryptocurrencies. This is a big congratulations I will love to share with all my friends and families that light has fully come to stay in Nigeria, no more hiding as a bitcoiners in the country, I'm proud to be a Nigeria.

It would be really nice if the Nigerian government really decides to educate such a large number of people about Bitcoin and blockchain, but as others have noticed, the article does not explicitly mention Bitcoin anywhere, but that is why it mentions the fake Bitcoin that has nothing to do with the Satoshi vision. Either they are so delusional that they don't understand the difference, or this is another attempt by Faketoshi to try to manipulate as many people as possible.

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@Agbe, the source you use has been (and still is) extremely hostile to Bitcoin over the years, so it would be good for you and everyone else to look elsewhere for information.

Even for now the Nigerian central bank is more inclined to crypto currencies such as bitcoin, compared to the national currency Naira, even after the Nigerian people made a large adoption of bitcoin, most of the Nigerian population began to leave the Naira currency, even rumors circulated that the Naira currency had worthless, news circulated also the currency Naira fell 1.2 percent to its lowest level.

Nigeria is a ground for experimentation of the Blockchain adoption but seems the trainees are not going to practice thier skills in Nigeria as they plan to send them to the London incubation program according to the article. And Craig Wright manages to insert his BSV with the help of NITDA.

There are lots of things to build in Nigeria as a developing country, those trainees I think should stay in Nigeria and develop more of what they have to enrich the country.

@Agbe I will like you to take your time to read and know the meaning of, Bitcoin Satoshi version (BSV).
just as I stated in my earlier reply on this thread, as far as I know, this news has nothing to contribute to the positivity of the quest for Bitcoin adoption. Why should the focus of the training be limited and mention BSV which is not real Bitcoin but a forked and fake Bitcoin that emanated from an individual who is facing several criminal case If we are varying for blockchain adoption in Africa and Nigeria we should focus on the real deal and stop playing political games with our decayed financial sector

Sir the news is purely on Bitcoin, in Nigeria Bitcoin is the king of all the cryptocurrencies. Just that the news is talking about blockchain. And there is no way one is learning Bitcoin without learning blockchain. You must understand blockchain before using Bitcoin, that is where p2p come to play. Though your understanding is different from mine.

By the way, The news is not fake or false. The news is legit but we the Bitcoiners from the region are saying is that, it is not by mouth or broadcasting it on radio or television but let the government put the news in action. Let the training kick start as soon as possible. And also what some commentors have said is the truth, probably, it is because of the forthcoming election in the country they are bringing this initiative to lure the youth to vote for them but in a whatever way they, the government has known that Bitcoin is good for the youth, therefore, in a good time the implementation will come to pass.

Well allow me to say this " I can term it to be a political propaganda" why because this same government were the people who restricted us from trading cryptocurrencies and today they came on air to aired about training 30,000 youths to learn and study about blockchain. Hear me or not, it's our country and I m a full and well known citizen, why must it be because the general presidential election is around the corner and they thought of buying the hearts of the youths by assigning this program for their political aim.
I believe those that from Nigeria knows too well about this and intention of our government.

First to believe it's true they should allow the youths to transacts freely with bank and associates our card without any restrictions.

Yet, the government through its central bank is freezing account of any one that uses his/her bank account for a cryptocurrency transaction.

While the news is a welcome development, I seriously doubt the government committed to see it through.
This might end up only on the news without any thing substantial done.

I can't think of any negative reason for this sudden embracement towards cryptos. There are other countries who are like this before where they also ban cryptos and then they unban it later on. It is said that their government already realizes the benefits of cryptos, that it can help improve the economy of their country.

Now can we stop thinking negatively shall we? Participants are lucky because they can be able to travel in London only for them to understand bitcoin more and to make use of bitcoin as a currency, as stated in the description. We readers can only wish that the same thing can happen to our country soon. I mean not the banning part of course but the traveling part .

Africa seems to be plain ground for experimenting bitcoin and inject the blockchain system into it from the scratch. The number one reason is their own currency which is already so much devalued that it’s as equal to as not using it anymore. I mean simply put, it’s none of use if you can’t even buy daily needs without spending notes which says 10,000 Naira, 5,000 Naira. Those are very very big denominations. 

With countries development ahead, its not in the right direction so these gonna rise with the time. It would be unrealistic to print money for that country because they will need it in enormous volume.

This is where comes bitcoin in play. It’s smooth transition seems highly possible for them.

Nigeria has been actively talking about bitcoin since 2020, one way or another, first the SEC of Nigeria designated cryptocurrencies as securities, then the CBN ordered banks to block access of cryptographic organizations to the financial system. After that, the SEC announced that it had suspended the recommendations. Since then, CBN has been the only Nigerian regulator that controls the country's cryptocurrency industry.

And finally, in the fall of 2022, the government of Nigeria begins negotiations with Binance on creating now favorable conditions for cryptocurrencies, but so far in a separate zone https://cointelegraph.com/news/nigeria-binance-in-early-stage-talks-for-crypto-friendly-economic-zone
So in six months I would not be surprised that Nigeria will again start banning and blocking everything related to crypto assets.

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Crypto and sports have been in collaboration for quite some time anyway, so for example Binance has collections of NFT FC Porto players, many famous athletes have approved cryptocurrency projects. It is known that the Dallas Mavericks have launched a cash-back rewards program to encourage fans to buy tickets and equipment using Dogecoin.  

It's about time Nigerian authorities showed some pro-crypto stance, given how high adoption of Bitcoin seems to be in Nigeria and how many small businesses are trying to do something with Bitcoin. It's great that they're organizing training, but it's the National IT Development Agency, and perhaps their goals and opinions don't align with those of other authorities. Moreover, there's a fine difference between 'blockchain solutions' and becoming Bitcoin-friendly. It's still a step forward, but clearly not as big or as cool as it might initially seem from the OP.

You seemed to have put words where there are none. The way you share the news, you made it look like it is all about Bitcoin. But based on the article, it isn't really about Bitcoin.


I haven't watched the official announcement, but nowhere in your source did it say that the the training will specifically be about Bitcoin. And I doubt it is about Bitcoin.


How I wish these were the exact words in the news. Alas, they aren't. Rather than being exposed to Bitcoin and become Bitcoiners, the actual exposure would only corrupt their minds. The exact words in the news are:

We might not know the secret reason for this blockchain training program, but this is indeed a miracle. A government that has always crucified the crypto space linking the industry to all sorts of criminal activities. Bitcoin has been blamed for money laundering, ransom payments, and even the loss of value of the Nigerian currency the Naira. The Central Bank has backed all forms of propaganda and falsehood to discredit bitcoin.

But it seems that they have come to realize that the future of Nigeria is the youths and bitcoin and Nigerian youths have become inseparable close allies. Now they are gradually waking up from their slumber. The training program might not be the best but it is indeed a starting point for better days ahead.

Adoption of Bitcoin by some government can be tricky and what must governemnt always support the most is blockchain and most of them always sees Bitcoin as an enemy of the state.
It is hard to believe that the government that bans their monetary payment system and local banks from handling crypto-related transactions.
I will advise you to wait a little longer before you can be sure they are really serious about it.

Personally, I would say that this is a good initiative but I would conclude that it is an early sign to adopt bitcoin. Never. I know the government. What I think is that, this is definitely going to have a ripple effect on the trainees as it may lead some of them to be curious about bitcoin but it can never be the government doing so for bitcoin. They are selfish and would rather focus on resurrecting their failing Enaira.

Nigeria moving forward along with technology is really impressive and it makes the leader to rest of the African nations in the cryptocurrency adoption, usage and giving importance. An initiative from the government makes it better than what a group of people or an non governmental organization does.

Already we've seen good way of spreading about cryptocurrency happening through different forms, even through churches. Now the government helping its people get educated about the technology that makes it is really a must and appreciable move.

This is exactly what I can relate this news to, this is just political propaganda in the wrong direction, teaching citizens about blockchain technology and crypto payment gateway processor is a great opportunity for the citizens to dive into the blockchain industry as an early adopter even though Nigerians on their own have adopted blockchain, Bitcoin for personal usage.
Where the government got it all wrong is where the focus is on Bitcoin Satoshi version BSV which most of us know is not real Bitcoin and was developed by Craig to claim the identity and control of the Bitcoin ecosystem which has not been a successful attempt for him, even though Bitcoin Satoshi version BSV exist on the exchange, it doesn't change the fact that BSV is just a copy cat and is no different from other altcoins like Bitcoin cash.


From this screenshot, you can see where that is mentioned, so to me personally, this is not a development that can get my attention since the process is faulty and dead on arrival with the mention of the Bitcoin Satoshi version (BSV)
Below the screenshot is the current price of the bitcoin Satoshi version, which has witnessed a lot of manipulations in the past.

This is not the first time the Nigeria government through its agencies will misplace their properties in blockchain/ crypto adoption, we can also see similar government policy mistakes when the CBN developed the e-naira that does not run on the blockchain which has led to many Nigerians not being able to onboard the e-naira wallet through their banks.
No doubt, blockchain/bitcoin is the fastest were to bank the unbaked but will the government take the right step in the right direction the answer is no for now due to corruption and lack of competence of the personnel in charge of key agencies in Nigeria.

Exactly, it may just be too late to win back hearts, although this their initiative is welcomed. It will have little effect on the peoples political opinion about the present government in the country. One thing it proves is that the government can be indecisive and that their former decision on crypto was borne from a standpoint of either ignorance or hate. The radio and other media outlets can be engineered to deliver any information or promises the government wants whether they have intentions to honor them or not. Believe I will believe these, I will like to see a proper list of people who qualified for it and picture evidence.

This is certainly the only reason I think this is coming up now. If not why would a government that has been ruling for 8 years and have been hostile to bitcoin suddenly have a change of hearts.
In fact this isn't the first of this initiative. Here is a link to where it is reported that they are partnering with Binance to educate people on blockchain.
Two big initiatives to help spread the adoption of bitcoin in a space of two months? After years of banishing it? It's political. I just hope the next government doesn't throw away the idea when they come in.
I think they are actually looking into the options since many youths have approached one of the leading candidates in the country and his resounding response of assuring to look into it has brought some youths to his sid. Now this current administration might actually be playing there last card with all this initiatives to win those youths back from the opposition

Countries on the African continent especially Nigeria have very often received a lot of attention in the crypto world because of bitcoin. Many users have owned, used, traded bitcoin there so at the lowest level the government has managed to suppress good economic numbers among the people without ban bitcoin completely.

Wait, is Negeria really against it instead of regulating it? I think it is still possible to relate to the political atmosphere which is the best way to get a lot of public support especially from those who like bitcoin and crypto.

This is a good news on its own foe the government of Nigeria to likely be on the verge of reconsidering it ways and approach towards bitcoin, but the adoption of blockchain technology is something that many countries have already been taking good advantage of before now since they discovered it could serve them alot of purpose to areas been applicable.


But is the government truly planning this? or are they doing other things in disguise to pretend to the people, i believe a country that would do that should have Bitcoin being used for payment by its financial institutions as approved, they ban the use of bitcoin by banks and we are saying there's an indication for adoption, which kind of adoption? at the end you will hear NFT or CBDC as their supported coins, bitcoin should by now have a good stand from government approval by every financial and economic settings.

This is a very valid perspective.
For a country which is very antagonistic to Bitcoin growth and development, having to train individuals in blockchain tech seems incongruent with the stance so far. It could be a political propaganda from the government to influence elections, although I doubt it would have much of an effect on the more educated members of the populace.

Neither would I.
The association with BSV is shady and with lots of information clouded in secrecy, I would await more details on how the training program would work, and how the incubation program would also work

That would make a lot of sense, since last time I checked Nigerian government was again Bitcoin and they even blamed Bitcoin for their national currency losing its value.  . What happened to the e-Naira by the way? Wasn't it supposed to be the CBDC Bitcoin killer in Nigeria?

Also, it is worth pointing out the fact the article makes direct reference to BSV, the closed source Bitcoin clone controlled by the faketoshi. I do not know what is going own but this article does not give me a good feeling, I would not trust its content without more confirmation.

Nigeria is trail blazing in the Africa Crypto-currency evolution and she is a source of inspiration to many other African countries. I would give the credit to the citizens of Nigeria who has not only massively adopted Bitcoin and crypto-currency in general but has also found ways to keep it going even when the government showed hate on it.

That said I think the news OP posted is another political propaganda from the current government in sit. Nigeria has her general elections February next year and the government who has been hard on crypto-currency comes up with this it's just to buy I over people.

Africa has long been viewed as the continent that Bitcoin would be able to help the most.  I've seen this week that one of their largest grocery store chains now accepts Bitcoin on the lightning network.  That's a pretty huge first step to having the currency widely used on the continent.  It seems inevitable at this point.  That makes me think that maybe we're closer to Bitcoin truly mooning something unreal than most might think.  The number available is so staggeringly low, when the entire world is using it as a payment network, even the pocket change people hold would propel the price like we haven't seen before.

Early ours on Saturday, 5th November, 2022 Nigerian Government announcement from it National Radio Broadcast that the government is willing to train about over 30,000 Nigerians in blockchain, specifically Bitcoin. The government is planning Nigeria to be the number one play in the crypto space in Africa. Some of the trainees who will complete the training, will have chanced to be in the London incubation programme while others will be giving the opportunity to become Bitcoiners as Satoshi's vision of the currency.
And the government  is inviting the citizens to take this opportunity and expose themselves in the new technological revolution.

Report: Over 30,000 Nigerians to Learn About Blockchain From Government Agency