When will the CBN lift the ban on crypto currency in Nigeria?

[Kingsley]

With the ban placed on the transactions on crypto currency in Nigeria by the CBN it became difficult for Nigerians to access their funds in their wallet, so novice needs to higher to people to help them withdraw through the p2p system because they have no idea of how the p2p works.

Some exchange platform like Luno doesn't seem to have that feature making it very difficult for people using such platform because they will need to first transfer their coin to a platform where p2p is functional and this comes with an additional cost.

Again I noticed that the exchange rate varies on several platforms in some platforms just like the Luno platform the dollar to naira exchange rate is far higher than the regular exchange rate on other platforms, if the ban is lifted people trading on Luno can withdraw directly and make the additional advantage on the Luno platform rather than losing it by using the p2p.

What is your take on this?

 

[sincerem]

You shouldn't care about the CBN lifting its ban, just forget about that. We've settled in using different alternative to cashing out our coins, or buying coins online since the law was enforced on those exchange sites/micro-payment wallets to stop dealing with Nigerian Naira when it comes to crypto purchase. I don't care if the CBN lifting it or not, i transact well now.

 

[funmi]

In as much as many Nigerians has found another way or ways of transactions, it will be good if the Nigeria government can lift the ban on crytocurrency. But I think they are working on it right now. It is possible for them to lift the ban as soon as possible. I even heard that they are planning to introduce their own Nigeria coin. Since they can't do anything about stopping Nigerians from trading cryptocurrency, it is better for them to lift the bab quick.

 

[Ahmedo24]

First of all cbn balance not really need transactions and cryptocurrency difficult for Nigerians and such in fact data shows that the trading volume increased significantly after the ban and you should also note that the cbn and set up commentary as working and how best they can go into cryptocurrency activities safely.
Yea, luno doesn't have peer-to-peer future and the best place to use P2P is on binance and local Bitcoin and most people they are very legit so your money is always safe.

 

[sincerem]

In as much as many Nigerians has found another way or ways of transactions, it will be good if the Nigeria government can lift the ban on crytocurrency. But I think they are working on it right now. It is possible for them to lift the ban as soon as possible. I even heard that they are planning to introduce their own Nigeria coin. Since they can't do anything about stopping Nigerians from trading cryptocurrency, it is better for them to lift the bab quick.

This men aren't interested in the lifting of the ban, they're just happy seeing people suffer and they're simply happy about that. I'm not worried anymore seeing them hang on to the ban, cos I'm using many method to transact around crypto and I'm settled with those method, they're simply working fine for me.

 

[Chibson]

The ban on cryptocurrency by the Nigerian government came as a shock to so many people because a lot of Nigerian youths depends on it for their daily living and survival. Since then some of us has adopted to binance P2P and it has been smooth all this while. I personally have never encountered any problem from binance peer-to-peer and their security is top notch.

 

[sincerem]

is quiet shocking to me too when I checked and discovered that ethereum has picked up tremendously than other cryptocurrency coins. The reason behind this drastic high change could be due to some experts predictions that ethereum may later grow and be more better than bitcoin. More so, I also heard that Chinese are planning to work with ethereum in this their new digital currency law.

Maybe the Chinese partnership with ETH blockchain is the reason why Ethereum is spiking up. I've not found the time to go check the ETH price via coinmarketcap. The last time i checked it, the price was around $2,880 and i was perplexed for such low price after seeing the price of the coin reaching $4,000.