Finally CBN gives the main reason why they put ban on crypto in Nigeria, the fact is there are many bad eggs among the good eggs, online romance scammers are now using bitcoin as their benefactor to cashing out money easily with no traces, read news here
https://www.arise.tv/how-fbi-alerted-nigerias-central-bank-to-scammers-using-cryptocurrencies-to-defraud-the-west/The question is are white people so stupid that they will keep sending money to people they've never meet in real life? Honestly all this defrauding through romance and other ways have been going on since past years now, I expected all this to have come to an halt, the problem isn't even the scammers but people who allowed themselves to be used
This is still very bad, they shouldn’t have banned it because it’s not everyone there in Nigeria that are using it for scamming people. What they should have done is to look for ways that they can track down the bad eggs and make them face their punishment , instead of banning Bitcoin. I know people in Nigeria who have taken out their time to learn everything there is to learn about Bitcoin and cryptocurrency trading, and that has been their source of income for years.
This government banning cryptocurrency is totally wrong, it means so many of the people there are losing their sources of income, some exchanges that has spent money to establish their businesses there will also be losing it.