Topic: Is cryptocurrency legal or illegal in Nigeria. (Read 29 times)

I am curious, can you share the link of the thread because I wonder who is in our LB that still thinks cryptocurrency trading is banned in Nigeria because even the Binance, Kucoin and others are still allowing most services except those related to our fiat currency naira. There have been much enlightenment on this over the years especially last year even before the recent banned of cryptocurrency activities with our bank, just like how it was in 2022.

Thank you so much for your contribution the reason why I made this post was because of the replays I got from the former post I made I discovered that some set of people believe cryptocurrency trading in Nigeria is criminal act or something that is against the law of Nigeria.
This is just a reminder that getting involved in crypto is not a criminal activity or against any law in Nigeria because no law has been made for or against people using cryptocurrency.
And this will also help remove fear in some people's eyes and help them no there right when it comes to using cryptocurrency in Nigeria because some feels police can get them arrested if they discuss cryptocurrency exchange app on there phone.

Do not forget that this is a forum where people visit daily to discuss. Also Nigeria local board is just like that as well. We know all these that you posted. It is just like a repetition of what we have discussed before in another threads in the past. If you bring something like recent news about crypto legality in Nigeria, it would be appreciated than this.

Cryptocurrency no dey recognize by Nigeria central bank as legal tender. Central bank of Nigeria ban commercial banks way they for Nigeria to stop involvement or transaction in cryptocurrency. The central bank in other to protect people from fraudulent crypto activities make am clear say Banks for Nigeria no go they involve with anything concerning cryptocurrency.

Banks way they for Nigeria done already agree say cryptocurrency get potential to improve financial system and transparency for the country as time goes on.

The main thing be say cryptocurrency no dey illegal for Nigeria, Nigeria house of assembly or law makers never make any law way criminalize the use of cryptocurrency so e no dey illegal no law enforcement agency fit arrest you base on crypto trading because is not against the law of Nigeria.
People they trade cryptocurrency for Nigeria the thing be say cryptocurrency no dey part of bank sector for Nigeria.

Since bank sector for Nigeria no dey involve for crypto na why peer-to-peer market con dey very popular for Nigeria.
One peer-to-peer exchange way they for Nigeria say Bitcoin exchange way happen for Nigeria for 2022 reach $400 million.

Those things way some people they talk say crypto dey illegal for Nigeria na lie no law way criminalize crypto trading for this country so no your right and the law, no gree make people but fear for your body you no dey do bad thing for trading crypto.

Source.
https://cointelegraph.com/learn/articles/crypto-regulations-in-nigeria