Topic: Why not pull down those billboards or sign posts? (Read 94 times)

Nigeria dey struggle to figure out how dem go take regulate cryptocurrency. Legal wahala and resources fit dey make e hard for government to take down crypto ads. Some people dey talk say make dem make am legal, but dem get some consince because of the way some pipu de use am do illegal activities. D tin wey pipu no sabi be say whether cryptocurrency legal for Naija or not, bcus e no too clear. Central Bank ban banks mek dem for no involve for crypto transaction. E no too be like say government dey see crypto ads as something wey e go important for dem to remove.

I have not been to that part of the country before but I don’t see such around my side. And I don’t see anything wrong with the advertisement been displayed there. I feel for the government not to put those signboards down despite there say on cryptocurrency, they might have a change of mind later for mass adoption of its use.

Despite all this controversies about bitcoin adoption in Nigeria, we still engage in p2p transaction and receive money through our local banks in naira. If the government wants a total ban of it, it’ll have taken extreme measures on how banks will blacklists accounts that receive money from sales of cryptocurrencies. For now no cause of alarm on its use.

Accepting crypto currencies as a legal tender within the country has alot of benefits as it would reduce the monopoly of our banks; the eyes of most citizens would be open to the fact that we are actually being extorted by our banks and trust me, this is bad for business from the perspective of our government and influential business moguls.

As everyone has stated since, Cryptocurrency is not illegal in Nigeria, there is only a partial ban and that is from cbn (which is, not being to make a bank transaction relating to bitcoin).
Nigeria Government have not seen the need for legalising or regulating it but will someday or not but as long as there is no complete ban in it, it does not really matter because those who are still earning from it still earns and also more and more people are joining crypto space in Nigeria.

From my last check i didn't see where it was ban in our country or when they said of not to use cryptocurrency to whatever you are doing. If i can recall clearly it was only stated not to associate our bank detail wit cryptocurrency and anyone caught doing that, their account would be entirely freezed and all funds would be lost or be in control of the government till further notice. After this noticed that was when p2p became very useful to us as the citizens and i don't think anyone have been caught while using it to trade since they don't usually includes crypto related words while releasing assets to the buyer.

To me billboard doesn't have anything to do with the government, i have also watch some movies seeing cryptocurrency billboard abroad, that doesn't mean they don't have government or cryptocurrency is being legalized over there but they are simply obeying their rules and regulation. couple with our government that doesn't want to help her citizens and we being independent from government and you said those things should be pull down?
Are you really making sense?

For we naija shah, you know say, one set or arm of government or even a government official with some good enough authority fit override anything way the 001 or even court talk for the country. Just like that, you go see say, different units go act based on jow e take favour them. Na how we carry dey see people account getting banned. Your bank manager hear crypto matter for your mouth, your account becomes subject to investigation and things like that.

Anyway, since the bear market come, government no too carry crypto matter gor head again and matter still remain say, them no bam crypto, them just no dey in support as, that na to commot some kind control for there hand and them get there own product way be fiat. Them no go fit abandon fiat for crypto or even endorse crypto since them know say, people way go divert go plenty and the fact say, the volatile nature in a way fit affect the people way no fit wait when e drop negatively.

Since the topic no carry any crypto related matter I just dey pass am since, just now I say let me checked di content and I see that do op is talking about crypto mata. Well naija government e no stop cryptocurrencies we have said dis time without no. I can vividly remember the present or the incumbent Vice President of Naija too am on di National Television in the year 2021 say, dem no ban the use of crypto. But I can't really remember how im take put am, but I saw him said something like dat. And since dem no ban am, anyone who is interested to use am e dey free. So those billboards are to advertise crypto in their various ways. Naija government e no go make am legal tender for now because of what dey do and also pride sef go kill dem. Pride and fear nai dey worry nails government for crypto matter.

Bitcoin and other cryptocurrencies are not deemed as illegal by the government. Almost all the governments in different countries in the world do not make bitcoin legal tender, likely because they have their own local currency which is the legal tender. Only two countries make bitcoin a legal tender.

Bitcoin does not have to be a legal tender, adoption will continue as long as the governments do not stringently ban their citizens from using it.

Technically there is no outright ban on bitcoin but on transactions carrying the narration "bitcoin, cryptocurrency". This is why you can no longer  sell or buy bitcoin directly from your bank.


As much as we want it to happen, let us face the reality -  it is still a very highly volatile asset. It is like, own it at your own risk. They can not regulate it(one of the functions of government is control).

It is legal because you can still use it in the country through P2P. It sounds illegal if banks get involved. Or you make a transaction via your mobile bank and write bitcoin or cryptocurrency in the narration when making paying to the other party.

It hasn't broken any law. Besides, it is generating revenue for the government.

*This is my own point of view sha. I'll read of others.

So lately, I was on the road to attend a couple of ceremonies happening in the family and had to travel all the way down from the southern state of my abode to the eastern part. It was a long journey indeed and I had the time to look out for anything new, familiar or simply absurd on my way. I really had an eyeful until I noticed more than once, huge sign posts and billboards advertising cryptocurrency, how to register for classes, how to trade and contact details as well.
I don't want to be too specific, but if you ever lived or visited Imo State, the bill boards with cryptocurrency advert on them is hard to miss.
Anyways, my point is that, the government of Nigeria has become so stringent in adopting cryptocurrency as a legal recognized monetary solution to the demands of its citizenry. The government has the power to sensitize and educate the jobless, to provide materials needed to do this, but turn a blind eye.

*Why have they failed to take down or sanction those who painstakingly mount these adverts on the billboards?

*Why can't they simply make it a legal tender and allow more persons learn and earn from the campaigns, trades and other features that cryptocurrencies has got to offer?

*Why does it seem legal, but illegal at same time?

*Why not pull down these billboards or sign posts?