Quote from: EL MOHA on Today at 09:44:37 AM

Quote from: EarnOnVictor on December 08, 2023, 10:22:46 AM

This will be a very good turn of events in Nigeria if the news is true. But I still wonder how the governor would do this since it would amount to a conflict of interest between the state government and CBN. As we all know, the CBN has banned all banks and financial institutions from associating with crypto dealing or anyone dealing with it. Perhaps this new CBN government would do the right thing this time.

After that February 2021 ban I think the government last year as actually relaxes the laws concerning cryptocurrency, just that they don’t fully support it yet

Let's establish the fact that it's never the Nigerian Government (the central government) that issued the ban directive, but the Central Bank of Nigeria (CBN). This is why it has always been partial, they have never had total authority over people but the banks and the financial institutions they regulate. Also, the law was years before the 2021 saga, they only reminded everyone and tried to enforce it.

Nevertheless, at that time, it bit so hard as they made it look like it was total. But for the smartness of people through P2P initiatives and others, which is coupled with the fact that even the banks they regulate didn't like what they did, then banks looked away in most cases and that is what is helping us till now. Not that CBN relaxes it, No, if they did, they will convey it officially. Also for the prominent people in the government, including the ex-VP supporting it by their actions and speeches, I believe this caused the CBN itself to look away as well even as the unwillingness of commercial banks themselves helps.