Now, it’s trying to tax any FX transactions done outside its window.
Someone will tell them that crypto is included.
They will say “But Buhari banned crypto”
And they will answer “Yes he did.. but not entirely. Nigerians still use crypto exchanges to buy and sell dollar”
Point is… in order to be an elite Nigerian in these times, you must be 10 steps ahead.
Don’t wait until it happens and becomes a trending hashtag.
Design your response ahead of time.
The only way me I dey see say government fit tax crypto exchange na when dem get physical presence for Nigeria but if dem no get den all this tax discussion no get point because how you go tax wetin you no fit control. Binance no get any physical presence for the country to tax am and dem dun disassociate themselves from any institution wey dey claim to get affiliation with them (I remember them calling BinanceNG a scam). It isn't a lie dat the government get plans to do things wey go get negative impact to the crypto market for the country but if you dey use decentralized service you no get problem because nobody go know say you dey do cryptocurency unless na you open your own yansh. If you dey use DEX, government no go fit tax you and some CEX self no go gree unless dem begin block IP address as dem do with twitter. E just dey like Binance exchange now, dem get the popularity they need already in Nigeria and mightn't be interested in opening a physical headquarters here when dem fit do am for neighboring countries and still get big patronage from Nigeria.
Even if they later decided to banned cryptocurrency in Nigeria entirely, Nigeria bitcoin and crypto adoption will continue to surge and this may make us all adopt the use of DEX and non-custodian wallet.
This na wetin me I want, we're too backwards when it comes to decentralization in the country, the things wey we dey use dey think say we dey use decentralized platforms aren't even totally decentralized. Me I want make government make all the centralized services wey dey operate for the country unfriendly so our attention go shift go decentralization and we fit improve that sector better because e go favor many developers wey go launch their dApp and dem go get interested patronages from the citizens of the country and no be now wey na VC and big investors go determine if your project/company go do well based in funding wey you go fit use do marketing and sell your product to the masses.