Quote from: Baban twince on May 28, 2024, 09:21:04 PM

the Nigerian government has been warming up to cryptocurrencies and even introduced a new digital currency called e-Naira. All this to say that the situation is constantly evolving.

the introduction of the e- naira which is same as CBDC is nothing too serious other than trying to model some of the Financial framework other nations are tilting towards and seeing if it's going to work in the Nigerian situation. It's obvious that from when the whole e-naira thing came on board, it didn't appear as though they wanted it to work and so when it wasn't gaining it deserved attention from the public, there was no strategy in place that was going to ensure that it actually worked and that's just why it appears as though the e-naira just came and went under bed within a short space of time.

Quote from: Baban twince on May 28, 2024, 09:21:04 PM

Nigerians are among the world’s top adopters of cryptocurrencies, often using them to transfer money, hedge against inflation, and as an alternative to the Naira.
However, there have been instances of fraud and scams involving cryptocurrencies in Nigeria, so caution is recommended.

fraude isn't just peculiar to crypto. banks have actively involved themselves in the highest level of fraude even before crypto gained popularity in Nigeria and even now that crypto is operating side by side with banks, it hasn't changed the narrative at all and the rate of fraude is still increasing by the day.

Understand that when it comes to the level of fraude that's happening in the crypto space, it's just individual that carry out these act but as it regards fraudulent activities in our banking sectors, you have so many persons to be worried about. The banks themselves are a treat, the bankers are another treat and even the government regulations are the bigger threat. There isn't any serious safety in banks compaired to crypto. They are not in the financial sector and one of the common risk that's known of in that sector is fraude. As much as it's good to be cautious while engaging in crypto transactions and holding unto your assets, it's also very necessary to do same while trading with banks.

Quote from: Baban twince on May 28, 2024, 09:21:04 PM

The Nigerian government has expressed interest in regulating cryptocurrencies, but it's unclear what form that regulation will take.
Despite the uncertainty, Nigerians continue to show interest in cryptocurrencies, with peer-to-peer trading and investment growing in popularity.

as much as I know, crypto has come to stay globally and regardless of the negative interest the government has been showing in this sector, it's just going to last for a period of time after which everything will go normal. They've tried and I know that by now it should be clear to them that the problem we're facing with the devaluation of our naira is not much of a crypto related issue.