RE: VERY CONCERNING NEWS: What does new BAN ON CRYPTO means for Nigerian users?
What actually caused this was the increase in the demand for dollar in placing trades by many Nigerian crypto traders and also the quest to many Nigerians in owniy the Bitcoin especially because of it's increasing value which the government has thought that the effect will throw the country into a hyper inflation without giving a careful thought to the negative effect the placed ban will bring to the whole economy.
But in reaction to this many notable Nigerians like the former PDP presidential contender ATIKU and so many of them has urged the government to lift the ban due to it's malignant unseen effect.
Finally it's not really a crime to own a crypto but the reverberation of freezing any cryto trader's account makes it more difficult to look up to the said invention. On the contrary since the crypto is a decentralized system it's still not possible to skunk the possession of crypto by nigerians. I strongly believe the ban will be lifted soonest because even many of the country's politicians invested into the crypto world.