Nigerian cryptocurrency: CBN ban Crypto [Dogecoin, Bitcoin, Ethereum] trading in Nigeria, how Atiku, Davido, odas use ‘CowtoCurrency’ react

Cryptocurrency ban by Central Bank of Nigeria [CBN] dey generate reactions all ova di west African nation.

Former Nigeria Vice President, Atiku Abubakar for im reaction advise Central Bank of Nigeria to revisit di policy wey ban di dealing and transaction of cryptocurrencies.

Atiku wey be rich businessman and get pleti business investment inside di kontri say wetin Nigeria need now na more jobs and to open up di economy.

“What Nigeria need now, perhaps more than ever, na jobs and di opening up of our economy, especially afta yesterday report by di National Bureau of Statistics wey show say foreign capital inflow into Nigeria dey at four year low, afta e don reduce from $23.9 billion in 2019 to just $9.68 billion in 2020. “

“Already, di kontri don suffer serious economic loss from di border closure and di effects of di COVID-19 pandemic.”

“Dis definitely na di wrong time to introduce policies wey go restrict di inflow of capital into Nigeria, and I advise make dem revisit di policy wey ban di dealing and transaction of cryptocurrencies.”

“E dey possible to regulate di sub-sector and prevent any abuse wey fit dey damaging to national security. Dat fit be beta option, than dis outright shutdown.”

Di former vice President say youths for di kontri already dey face serious economic pressure and na di work of di goment to reduce dat pressure and not to add to am.

E add say Nigeria need to open dia Economy and not to close am.

“Di number one challenge wey dey face Nigeria youth na unemployment. In fact, no be challenge, na emergency. E dey affect our economy and dey increase insecurity for di kontri.”

“We must create jobs in Nigeria. We must expand di economy. We must remove every thing wey dey block investments. We owe di Nigerian pipo dat much.”

Recently Central Bank of Nigeria [CBN] send letter of reminder to all banks inside di kontri to stop dealing in Cryptocurrency or facilitating payment for Cryptocurrency exchange.

For di letter wey CBN send on Friday, 5th February, dey order say make banks “identify any pesin or groups wey dey do business or dey operate in crypto currency exchanges within dia systems and make sure say dem close down such account sharperly.

Meanwhile some oda notable Nigerians don begin react to dis new development concerning Cryptocurrency for Nigeria.

Gbenga Sesan wey be social entrepreneur say if to say pipo get confidence for di monetary policies of CBN and di fiscal policies of Nigeria goment, dem no go do Cryptocurrency and Bitcoin.

Former Presidential Candidate for Nigeria, Adamu Garba react say make those wey lost dia money through Crypto invest on real assets, like cows, wey im say go bring huge returns on investment.

E say Cow Ranching business dey more lucrative than all cryptocurrencies combine and call am CowtoCurrency Networking and laugh at di end.

Also Nigeria Musician Davido, wey bin tweet on 2nd February, 2021 say im dey think about starting Bitcoin trading company, surprise to see dis CBN recent reminder to bank on crytocurrency traders account.

Davido express shock and say dis dey happun just three days afta im bin tell e more than 8 million followers on twitter about plans to go into cryptocurrency

“Wooooooow only took 3 days” Davido tweet

Former Vice President of World Bank, Oby Ezekwesili don criticize di ban on cryptocurrency trading wey Central Bank of Nigeria do.

Madam Ezekwesili, wey don be Nigeria Education Minister before, say di order make di kontri appear not prepared to embrace di future.

She also put up anoda oda tweets wey refer to di CBN Policy;

“As Abraham Maslow tok for 1966, “I suppose e dey tempting, if di only tool you get na hammer, to treat everything as if dem be nail. It is a pity, really.”

Segun Awosanya wey be Nigeria social activist react say dis ban go only shut down di trade in Nigerian currency [Naira] and make di Naira lose value as pipo go dey trade mostly in dollars.

“Di only thing di ban would go na to shut down di trade in Naira and puts more pressure on di Naira with high volume of transactions in Dollar.

“In no time you will need a truck load of Naira to buy one single dollar. “

E add say make those pipo wey hold Cryptocurrency in any form, no fear because dem just get richer with dis ban.

Former special assistant to ex-President Goodluck Jonathan, Reno Omokri don react and ask di goment to regulate crytocurrency trading instead of to ban am.

“You no need to throw away di baby with di bath water. You no need to destroy Nigeria economy because of regime security. If you get issues with Crypto and BitCoin, regulate am but no elimate am. Eliminate am and you eliminate jobs. And our youths need jobs!

E say if di goment no fit create jobs for youths, then make dem no destroy di jobs wey di youths create for demsef through Crypto and BitCoin.

Reno also add say di Naira go collapse more against di dollar sake of dis decision to ban crytocurrency.

Na on 14 September, 2020 Nigeria Security and Exchange Commission [SEC] decide to dey regulate digital assets like cryptocurrency for di west African nation.

SEC say di move na because ‘digital asset offerings’ like “crypto-token or crypto-coin” dey provide anoda way wey pipo go fit invest or keep dia money as asset.

Dis ground breaking statement (dat time) bin surprise many as e be say di Central Bank of Nigeria don draw ear before give Nigerians say dealers and investors in any kind of crypto currency in Nigeria no dey protected by law.

But Cryptocurrencies whether na crypto-token or crypto-coin don dey make waves for Nigeria no be today, even outside Nigeria, many pipo don show di greatest interest in cryptocurrency world wide.

Elon Musk, wey be business mogul and one of di world richest pipo, na big supporter of Cryptocurrency as means of income and investment.

But if dis CBN policy tanda, e fit trap millions of dollars cryptocurrency money inside Nigeria wey get di second largest Bitcoin trading volume inside di world.

Nigerians don trade more than 60,200 bitcoins since 2015.