Crypto adoption is under threat by the Complicit banks

By belemo | belemo | 12 Feb 2021

I've said it times without number, and I'll like to reiterate that nothing good can come out of Nigerian politicians. There are probably good men in there but the whole is corrupt and retarded, so their goodness just gets absorbed into the madness.

Take the recent crypto ban that surprised everyone in recent times. The government, through the central bank, instituted these stringent policies on accounts related to crypto trading.

There has been a couple of images circulating Twitter about someone's bank account that was closed due to crypto trading activities.

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It is happening right in front of us and this shit is all too real. For what it's worth, when your account is closed, you're given a bank draft that enables you to open an account somewhere else.

To be completely honest, that's not a bad deal. I wouldn't want to use a financial institution that is retarded enough to actually follow those silly instructions by the CBN.

Word by the Senate

The decision was unanimously made by the Central Bank. There was no consultation or hearing whatsoever with legislators.

The word on the news is that the senators summoned the CBN governor to explain his actions.

I'm not expecting anything positive to come out of the meeting. The general mood is negative and according to one retarded senator "Naira has become useless because of Bitcoin". Although he did go further to say that there are benefits of blockchain technology, I'm pretty sure that was just him trying to sound diplomatic in light of everything going on in the world.