Via twitter
I was planning to write about how I achieved 4k staked Leo when I saw the circular making the round from the central bank of Nigeria. It's actually the most sickening news I've seen in a long time. Yesterday I made a I video about how things are becoming directives and policies from the federal government has negated the concept of smartness and ease.
So many people have been asking for the reasons why the Nigerian government has banned crypto trading since this circular passed by the central bank of Nigeria to the other commercial bank included no reasons for this ban but this is simple, government cannot control crypto, they cannot tax they holders, they don't have shares from it, they cannot regulate it, they don't understand why it's getting so much endorsement, they don't understand the tech and finally they see it's concept as a scammy way of making money.
Some days ago a Nigerian musician stated he was starting a bitcoin company and many people saw this as a positive PR for the crypto trading and crypto in general. If the government can study trends they'll discover that the largely unemployed population has resorted to Crypto trading to earn a livelihood.
But then this is probably Nigeria for you. Companies like luno that are in cooperation with commercial banks in Nigeria will have to stop working, people's fund are in jeopardy unless they send them to wallets like coinbase and the rest. Before now Nigeria is the highest crypto market in Africa and this has been one of the most thriving venture.
So basically we're seeing financial censorship of a sort. 2015 was when Nigeria saw the most terrible governance in her history come into inception and from 2015 till now, we have seen the most terrible form of Attacks in forms of control, there are plans currently ongoing to ban twitter in Nigeria.
People needs to re-register their line with a stupid government issued 11-digit and without that they face the prospect of ban on their mobile numbers, the government and her various sectors are on a ban rampage and funny enough, they're monetizing Covid-19 to get rich, but they're banning fruitful ventures like crypto that enriches the common man.
Other countries are leveraging crypto to improve their economies but it's funny that the financial sectors in conjunction with the federal government are banning Crypto in the 21st century. Bono haram has been a thing since 2014 and the government hasn't done a thing, insurgency has been a thing but the government has done nothing. It's crazy how all their decisions never affects their functionalities but the people they're governing alone and this is obviously the height of it all.
Commercial banks will have to start blocking bank account that trades crypto. I know of many people who have built legitimate crypto trading business with their hard earned capital and for the first time in my life I'm truly scared. This virtually ends crypto adoption in Nigeria since it's now a crime to trade crypto. I'm only hoping this directives don't get to work out overtime as things like P2P can be exploitative, stressful and even insecure. The government strikes once again and this time it's knock out. Meanwhile I hit 4k staked Leo