Although this is a fake news according to my investigations couple of minutes ago, but I'm a solid believer that there's no smoke without fire. The government are surely cooking something lighter or worse, which got into the wrong hands and an amplified whistle was blown on them leading to their suspension of plans and public denial of such claims.
Its no news that the government are not happy with the progress of the citizens in the decentralized monetary system. Basically because they can't control it and its enriching people without discrimination and limiting dependence on their weak recognition of the masses. The bright future that crypto promises to the citizens is seen as a threat to their political ambitions and they fight it with all their power forgetting that the more you fight a good cause, the more you spread the good news in the process.
Crypto has come to stay, bitcoin has come to dominate. I think the earlier they recognize these, the better for them so they take advantage of it rather than being busy chasing shadows.
Topic: Nigeria’s central bank forced to deny claims of crypto account freeze - page 2. (Read 264 times)
April 24, 2024, 01:27:26 PM
April 24, 2024, 12:38:17 PM
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
If this is fake, there must be something we don’t know that is cooking underground which must have birthed this. I just don’t think this circular will come out if they’ve not discussed an issue it raised a motion to go after bank accounts that are into cryptocurrencies. If they eventually make this news true and work on it, it will affect many people and all of us here. I just see this as a temporary caution to tackle the challenges they’re facing with the dollar rate. This is yet again another misplaced priority by them if they’re going to work on this issue with this type of policy.
I believe this have made the exchange people to start increasing the price of dollars. As I am writing this post, the cost of 1usd to Naira is #1320, at yesterday, it was 1220,and at on Monday, it was #1150.
What were they expecting when decided to use a temporary measure to tackle it. They keep taking from our reserve to sell to BDC’s operators thinking that will harness the current economic situation. They know better than we do and when they don’t take the right step, they’ll continue to make things worse for all.
April 24, 2024, 11:21:05 AM
I guess the government is confused on how to handle this crypto related issue on how to regulate it to make sure that they are benefiting from it, and that is why we hear one news today, and the next day we hear that it was a fake news.
Currently, with the way the inflation is still rising most people have come to understand that dollar and exchanges are not the cause of inflation, because the price of dollar have dropped and inflation is still on the high side. I believe this have made the exchange people to start increasing the price of dollars. As I am writing this post, the cost of 1usd to Naira is #1320, at yesterday, it was 1220,and at on Monday, it was #1150.
Currently, with the way the inflation is still rising most people have come to understand that dollar and exchanges are not the cause of inflation, because the price of dollar have dropped and inflation is still on the high side. I believe this have made the exchange people to start increasing the price of dollars. As I am writing this post, the cost of 1usd to Naira is #1320, at yesterday, it was 1220,and at on Monday, it was #1150.
April 24, 2024, 10:46:45 AM
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
Base on the link you shared and what's currently on their X page I think you meant False.
Confusion occurred when the central bank denied the story on X but then deleted the denial. Some hours later they claimed the allegations were indeed false.
But after the $10 billion fine against binance drama, I believe there is an atom of truth here though they claim it's false. Actually the crypto regulations in Nigeria must be one of the most annoying, the government should just pick their stand and then we know how we Will do our things because either ways the government can't stop us though the adoption growth will be affected but Thank God for decentralized platforms we will move on.
April 24, 2024, 10:40:33 AM
Who heard about this? Nobody brought it up on the forum. I am referring to the rumour that that the CBN directed all banks and financial institutions to identify individuals or entities engaging in transactions with cryptocurrency exchanges and to ensure that such accounts are put on Post No Debit (PND) instruction for six months. PND which means that the account owner will not be able to make transaction on the account for six month according to what I read on Cointelegraph.
This is the fake circular:
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
This is the fake circular:
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
We cannot question the government because they in power, even when its all glaring to the eye that what they are saying is not part of it, i think the ban you're talking of was what transpired before the present administration, which was the law made by the former president not to allow banks on such engagement, but now, the current administration will refute the claim since it was not coming from them, even though they met the implementation on ground, then who are we to sue the government when they make a claim or dispute it as well, they are the leaders and in charge, CBN is just a wing of the government and we cannot predict on what may transpired between them and the government on this same matter.
April 24, 2024, 09:38:14 AM
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
All this recent gingering is because naira has started loosing her worth again and they are still going towards only the crypto ecosystem. What happens to looking into other sector that can help boost the economy? It's not about trying to play the victim here by shifting all the blames to the crypto sector as though the only problem we have in this country is coming from those in the crypto and forex space. Even after the naira gained upto N1150 per dollar, the price of garri still was as high as N500 for two cups so they should just face therw front and look out for ways to bring out all the money they've looted from the country's Treasury.
April 24, 2024, 09:05:45 AM
Though it is a fake circular but I have already said it before that the government cannot continue to witch-hunt those that are into cryptocurrencies because it is very late for them now because crypto awareness have gone vast in the country such that even if they will achieve bringing those into cryptocurrencies down, some others will still be in the system without being caught but i continue to imagine that what was the need of lifting the ban they placed on cryptocurrencies if they will still be going about making things become so complex for crypto Enthusiasts and crypto entrepreneurs in the country?
Okay now that they have succeeded in bringing Binance to a hault, are they also trying to move over to other exchanges as well? Just like the news on this thread After Binance: BYBIT and BITGET how long will they continue to look for solutions in the wrong places?
Okay now that they have succeeded in bringing Binance to a hault, are they also trying to move over to other exchanges as well? Just like the news on this thread After Binance: BYBIT and BITGET how long will they continue to look for solutions in the wrong places?
April 24, 2024, 08:23:12 AM
Who heard about this? Nobody brought it up on the forum. I am referring to the rumour that that the CBN directed all banks and financial institutions to identify individuals or entities engaging in transactions with cryptocurrency exchanges and to ensure that such accounts are put on Post No Debit (PND) instruction for six months. PND which means that the account owner will not be able to make transaction on the account for six month according to what I read on Cointelegraph.
This is the fake circular:
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
This is the fake circular:
It was not even signed. But people were believing it?
It was on the news that CBN first denied it on X but later deleted the denial. But some hours later the CBN claimed that the allegation is not false.
https://cointelegraph.com/news/nigerian-central-bank-freeze-user-accounts
We do not have this on Nigeria local board and I believe no one among us will believe in the false circular.
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