Roqqu disabled all trading/swapping of USDT with the Naira with immediate effect

7juju

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use USdt with the naira in their platform because of the drastically reduction or unstable nature of the naira against to the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to the exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

This excuse give by Roqqu is a lame excuse. They don't have the balls to tell the Nigerian community the main reason they are implementing such a policy against the naira. The NGN is not the only currency that's experiencing volatility in the stock exchange market or the financial market. How many of such policies have they implemented with other countries witnessing similar situation with Nigeria. Are they telling us that Nigeria is the only country having economic hard times.
This is a big insult to the Nigerian traders at their platform. The government is not against them in any way, why will they decided to frustrate their loyal customers from Nigeria. This is really bad, they will lose the Nigerian market to other competitors. It's their loss, P2P cannot be stopped in Nigeria. Crypto cannot be stopped in Nigeria.

Marykeller

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use USdt with the naira in their platform because of the drastically reduction or unstable nature of the naira against to the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to the exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

Make others no follow suit abegy cos crypto na the side hustle of most Nigeria youths. If FG come ban everything concerning crypto exchange wetin go come be the hope of poor masses wey d depend on crypto for daily bread.

I think sae the whole idea of all these attack on crypto exchange na about the illicit activities wey d run inside crypto exchange. Wey be sae Binance na the main target of it all.

For exchange like Roqqu to disable their usdt/naira na wetin I no understand their reason for that. Whether dem d indirectly sae or believe that the naira crash to dollar na crypto exchange cause am, and because of that, they wan disconnect their services to Nigerians until the matter settle.

I know sae Nigeria's don't forget that bad did to them in their times of need. Roqqu go collect(that ends their services to Nigerians cos Nigerians no go ever trade with them even if the matter settle).

I been read this on Fb and I go like quote am

Quote

Selling $$$ to BDC agents won't help naira because CBN has no dollars to sell, once the $300M they have fizzles out.

There is no sustainability in this, therefore, expect $1 = N2000 in the coming weeks.

Cryptomultiplier

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use USdt with the naira in their platform because of the drastically reduction or unstable nature of the naira against to the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to the exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

This is getting really serious o. We are in for hard times with this current government bent on destroying or distabilizing the use of cryptocurrency in any form.

Instead of them to focus on strengthening the Naira or find good solutions to alleviate the suffering already witnessed by many Nigerians they are going after exchanges, clamping down on businesses that are thriving without government interference and worse is that, it's almost as if the whole country has become a single state which is Lagos. Lagos as I have known is a state for agberos of whose main job is to collect tax from practically everyone either walking or operating commercial and even private transportation businesses or other kinds of businesses too.

Roqqu should know there are other exchanges that would still manage to bear to foot the volatile nature of the Naira right now, and there's still hope for the Naira to rebound. Till then however, fees could be adjusted accordingly instead of to stop trading or swapping from USDT to Naira.
What currency can we then use incase we want to withdraw our coins? This country na WA o .

Brainiac01

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use USdt with the naira in their platform because of the drastically reduction or unstable nature of the naira against to the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to the exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

A lot of people don't know that, us dollar is growing very weak every day. They experience so much inflation like us, I know the dollar is the standard for international transactions but currently it's actually the 10th in the world in terms of worth. So them removing their hands from Nigeria currency is actually to protect themself from loss I believe.

Makus

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Quote from: Mate2237 on February 28, 2024, 01:23:23 PM

Quote from: Makus on February 28, 2024, 10:19:26 AM

E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.

Na the same thing now e don go happen for Binance too. And that means the Op was right. And the way I see this matter eh. This exchanges dey walka hand in hand because as one stopped di naira peer to peer, other follow up though it is the government policy they all following. And now to sell bitcoin will be a big problem in the country because all the Centralized Exchanges will be disabling naira p2p so people will thinking alternative means to market their assets.

Omor the matter don cast oo, yesterday I Check my binance naim I see say their naira p2p don vanish. Like this the fire don really spread, my fear na be say make this thing no go affect other crypto exchanges oo. Like this now, e don dey too obvious say na our government naim don put hand for all this thing wey dey happen, I no fit believe say those illiterates don go create another problem instead of to solve the one wey dey ground. All these things wey Dem dey do na just temporary solutions and e no go last because, when once this stage don pass, dollar go still increase over the Naira.

Miles2006

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Quote from: DaNNy001 on February 28, 2024, 03:19:37 PM

Quote from: Mate2237 on February 28, 2024, 01:23:23 PM

Quote from: Makus on February 28, 2024, 10:19:26 AM

E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.

Na the same thing now e don go happen for Binance too. And that means the Op was right. And the way I see this matter eh. This exchanges dey walka hand in hand because as one stopped di naira peer to peer, other follow up though it is the government policy they all following. And now to sell bitcoin will be a big problem in the country because all the Centralized Exchanges will be disabling naira p2p so people will thinking alternative means to market their assets.

My brother no be small thing oo like this I even dey confuse because the matter don tire me because I be wan sell small coins for my account but I come find out say Omo no way to actually trade because the P2P option dey show blank and like you talk if this thing continue like this then to actually trade your coins go be big problem but although these na just the starting phase and other exchanges still dey allow but if binance exchange wey get big reputation sef don block am then I believe other Xchange go follow as well.

When I saw the thread this afternoon I never took it so serious, omor binance don follow suit and I strongly believe this problem go spread although not all exchange but it will not end with binance, my only hope right now is this situation will not last like it will not take too long because dollar exchange no be the problem of naira depreciating and besides price of things never reduce, this is a perfect example but our government no dey considerate about the citizens and their well being, if we should start counting the number of Nigerians using binance you can't even count so for me it will not last for long.

DaNNy001

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Quote from: Mate2237 on February 28, 2024, 01:23:23 PM

Quote from: Makus on February 28, 2024, 10:19:26 AM

E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.

Na the same thing now e don go happen for Binance too. And that means the Op was right. And the way I see this matter eh. This exchanges dey walka hand in hand because as one stopped di naira peer to peer, other follow up though it is the government policy they all following. And now to sell bitcoin will be a big problem in the country because all the Centralized Exchanges will be disabling naira p2p so people will thinking alternative means to market their assets.

My brother no be small thing oo like this I even dey confuse because the matter don tire me because I be wan sell small coins for my account but I come find out say Omo no way to actually trade because the P2P option dey show blank and like you talk if this thing continue like this then to actually trade your coins go be big problem but although these na just the starting phase and other exchanges still dey allow but if binance exchange wey get big reputation sef don block am then I believe other Xchange go follow as well.

Obim34

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Quote from: Charles-Tim on February 28, 2024, 09:11:01 AM

Quote from: Agbe on February 28, 2024, 08:56:51 AM

I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck.

Since the naira price increase, are the goods and services reducing in price? What we need is a stable economy, not manipulation from the government. Don't you know that the government are manipulating the forex by arresting BDC operators, and making exchanges like Binanace to indirectly be controlling the price in P2P market.

If the naira can be very stable to foreign currencies without manipulation from the government, that means a better economy. Let us see how this will later be.

You really spitting bars cause this maybe pure manipulation of the government, one thing we have known from time about this government is they never take any action whereas it doesn't benefit them in one way or the other. Judging from our present state of economy it is an abstract way of thinking to help in the betterment of the country. There are many ways to help the economy of Nigeria, trust me this is not the better option to imply.

Quote from: Charles-Tim on February 28, 2024, 09:11:01 AM

Quote from: Agbe on February 28, 2024, 08:56:51 AM

As this exchange platform disabled the use of naira, others will follow suit soon.

An exchange that is not (well) known.

This is actually my first time of hearing about this exchange, never knew something like this ever existed. Them closing the trade is not necessarily important perhaps it is less necessary to debate on since their are far more popular exchange that are still keeping the deals.

Marvelockg

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

it's not just about wishing that and the naira should gain as high as $1=150₦, are we ready to face the implication of such development? Now that the increase in the ratio of the naira to the dollar has made lots of youth to shift Thier interest into doing online jobs and the effect of unemployment hasn't been felt that much, do you know what will happen if a dollar equals 150 naira?

The problem I have with out leaders is that the are very poor in doing proper analysis of things to look at things from differwnt point of view. Thet clmain to be wise over small matter while they are loosing in the real sense. It's not just about arresting the berue the change people and threatning crypto platforms around, after the naira has started gaining, will it affect the cost of living of the average man on the street? It didn't take them long to increase price of fuel immidiately dollar went close to 1700 bit now that it's gradually coming down all the t fair is still the way they've increased it to oh.

Pi-network314159

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Quote from: Barikui1 on February 28, 2024, 09:25:08 AM

Quote from: Agbe on February 28, 2024, 09:14:25 AM

Quote from: Chibit01 on February 28, 2024, 09:03:28 AM

sorry to correct you please it wasn't dollar that was weak it is naira please check your write ups and make amends thanks

You don't have a problem for correction, but naira was appreciated today against the dollar. Remember $1 was equal to #1750 as of yesterday but today $1 is equal to #1500 and some even saying that it is $1400 so I don't know why you are trying nto say. If you have an evidence you can display it here foe us to confirm then I will make the correction. Thanks for your input.

Chai, this action by the federal government is really laughable, they are just busy deceiving themselves, because they knows the right thing to do but they are not doing it, how is this actions they are taking affecting the price of goods in the market? Because I have seen no effect since they start taking such measures, price of things are still very cost, they should be working on the economy, for it to be better not this, let's just watch and see where it will lead them to.

I thought as much, That was what I was thinking. How on earth would government leave to do the needful and be doing what is not necessary. It pains me alot despite agbe said in his thread that roqque disable usdt against NGN due to unstable nature of naira, I still think Government has something to do with it, because it is also affecting binance P2P. There are many times when USDT against Fiat has changed significantly just like it did today according to eye witness, but I don't see that as enough reason they should shut down those P2P exchange. I just see that Governments really want us to really suffer. Maybe since the cryptoprenuer are not complaining about the economy that's whay this greedy men want to see as have the taste of hardship but thank God for cryptocurrency which is global and decentralized which can not penetrated. If not we would have seen the worst. I am not really happy today swing this because it has been lingering for long but has been accomplished today. But I believe it will not last. Let's watch out and see how the game plays.

Mate2237

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Quote from: Makus on February 28, 2024, 10:19:26 AM

E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.

Na the same thing now e don go happen for Binance too. And that means the Op was right. And the way I see this matter eh. This exchanges dey walka hand in hand because as one stopped di naira peer to peer, other follow up though it is the government policy they all following. And now to sell bitcoin will be a big problem in the country because all the Centralized Exchanges will be disabling naira p2p so people will thinking alternative means to market their assets.

Makus

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When I saw the topic I thought the op was gonna tell us that exchanges has started disabling naira p2p from their service due to the current threats about banning of crypto currency in Nigeria. I can't even blame them for the action they took because the fluctuations of the naira these period, has been on the high side and a traditional currency ought not to move like that. However if other exchange do the same then that might be a problem because we'll no longer have access to trading USDT to naira.

Quote from: Charles-Tim on February 28, 2024, 09:11:01 AM

An exchange that is not (well) known.

E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.

Barikui1

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Quote from: Agbe on February 28, 2024, 09:14:25 AM

Quote from: Chibit01 on February 28, 2024, 09:03:28 AM

sorry to correct you please it wasn't dollar that was weak it is naira please check your write ups and make amends thanks

You don't have a problem for correction, but naira was appreciated today against the dollar. Remember $1 was equal to #1750 as of yesterday but today $1 is equal to #1500 and some even saying that it is $1400 so I don't know why you are trying nto say. If you have an evidence you can display it here foe us to confirm then I will make the correction. Thanks for your input.

Chai, this action by the federal government is really laughable, they are just busy deceiving themselves, because they knows the right thing to do but they are not doing it, how is this actions they are taking affecting the price of goods in the market? Because I have seen no effect since they start taking such measures, price of things are still very costly, they should be working on the economy, for it to be better not this, let's just watch and see where it will lead them to.

Agbe

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Quote from: Chibit01 on February 28, 2024, 09:03:28 AM

sorry to correct you please it wasn't dollar that was weak it is naira please check your write ups and make amends thanks

You don't have a problem for correction, but naira was appreciated today against the dollar. Remember $1 was equal to #1750 as of yesterday but today $1 is equal to #1500 and some even saying that it is $1400 so I don't know why you are trying nto say. If you have an evidence you can display it here foe us to confirm then I will make the correction. Thanks for your input.

Charles-Tim

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck.

Since the naira price increase, are the goods and services reducing in price? What we need is a stable economy, not manipulation from the government. Don't you know that the government are manipulating the forex by arresting BDC operators, and making exchanges like Binanace to indirectly be controlling the price in P2P market.

If the naira can be very stable to foreign currencies without manipulation from the government, that means a better economy. Let us see how this will later be.

Quote from: Agbe on February 28, 2024, 08:56:51 AM

As this exchange platform disabled the use of naira, others will follow suit soon.

An exchange that is not (well) known.

Chibit01

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Quote from: Agbe on February 28, 2024, 08:56:51 AM

I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use Blockchain with the naira in their platform because of the drastically reduction or unstable nature of the naira against the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

sorry to correct you please it wasn't dollar that was weak it is naira please check your write ups and make amends thanks.

Of course why won't Roqqu exchange platform scramb naira out because of it's unstablity and drastic reduction on a daily basis.

I can assure you that nobody want to take unnecessary risks all in the cause of investment to earn. Naira has become a torro and total valueless in the stock market I can't even advice any exchanges to include Naira in their market untill the government of Nigeria looks in the economy and knows how to amend and put things in other

Because as the look of things may be they are all nonchalant about the whole stress that Naira is passing against all the foreign currencies.

Agbe

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I just got a pop up message in the email and I discovered that Roqqu exchange platform https://roqqu.com/ has disabled the use USdt with the naira in their platform because of the drastically reduction or unstable nature of the naira against to the dollar. That's the recent volatile nature of the naira made tham to take the decision but according to them they might change the policy later when the naira is stable. And this is part of their statement in the mail.

Quote

In the light of the current volatility of the Naira,
We have disabled all trading & swapping of USDT with the Naira (NGN) on Roqqu with immediate effect.

and according to the exchange rate of today, dollar crashed to naira with di sum of #250 and now $1 is equal to #1500- and as for me the amount is still high and I want the dollar to crash to $1=#150 as it was in the period of former president of Nigeria Goodluck. Even at that people were saying that the dollar was very weak. But now it is over weak or the naira now is nonsense with no value in the international market. As this exchange platform disabled the use of naira, others will follow suit soon.

Topic: Roqqu disabled all trading/swapping of USDT with the Naira with immediate effect (Read 161 times)