Post
Topic
Board Economics
Re: Nigerian Banks To Close Accounts Involved with Crypto
by
redsun114
on 06/02/2021, 15:07:16 UTC
You should expect your accounts to be suspended soon if you've transacted with Binance Nigeria and other exchanges or custodial service using your bank account before. I hope you will find other ways to convert your cryptocurrencies to fiat and vice versa. Are there enough merchants that you can deal with P2P?
Nigeria??? That’s where I least expected this kind of thing to happen. It’s really coming as a surprise to me when I saw the news yesterday that Nigeria’s Central Bank has banned cryptocurrency. This is really bad. I was having this conversation with my friends and we just came to the conclusion their government don’t have any understanding about cryptocurrency and that’s why they have decided to ban it, that’s the normal thing with government, they ban what they don’t understand.

Moreover if you all can remember, around last year Nigerians during the ENDSARS protest were making use of Bitcoin since the government were blocking their banks accounts, so Bitcoin was the only solution. So I guess this might be why their evil government has taken this bad step, to oppress the citizens.