The war against Cryptocurrency and the Nigerian government has taken another twist as the government has set out to make the lives of Nigerians dealing with the currency much harder. In a twist of event, the government has decided to treat everyone who is involved with Crypto as a criminal and they will be prosecuted based on the criminal code as established under the Nigeria government law.
This measure has been taken by the government to ensure that Nigerians and youths are being persuaded not to engage with the technology. So far, the measures taken by the government have worked as statistics from Binance show that the number of trading done by Nigerians has drastically reduced by 42 percent last week.
The reason for this harsh measure being employed by the government could be traced back to the event of a year ago. Yes, the #EndSars movement necessitates the Nigerian government to want to ban the technology as it was used in the fight against corruption, Injustices, and Police Brutality in the nation.
The cryptocurrency technology was used to support and fund the movement as donations came from all around the world in either BITCOIN or Ethereum. The Nigerian government couldn’t do anything to stop this as they have no control over the technology. Hence the first strike of the Nigerian Government was to ban Twitter which happens to be the social media that helped communicate this maltreatment faced by Nigerians to the World.
This ban alone causes millions of Nigerians to lose their jobs as Twitter has provided a lot of jobs to many Nigerians and serves as a medium with which companies reach out to a wider audience. Now the crypto ban is next, and the result has seen the use of the technology hit a rock as it seems to be decreasing. Nigerians are suffering heavily from this and yet the Government has paid no attention to the cries of the masses.
The crypto bans have opened Nigerians to another round of police brutality, and this conforms to the fact that the Nigeria Government has learned nothing from the End Sars campaign that was embarked on recently. The police themselves have set out to capitalize on this new direction as they have used this medium as an avenue to extort the masses once again.
It is common to see Police Stop a Nigerian Citizen and ask them to unlock their phone while they scan through it to see if the owner has a Binance or other crypto-related apps on their phone. If found guilty of this, the culprit will be abused physically and mentally and it’s becoming a norm already as people have started making peace with these great injustices. Nigerians once again as been put under the hot knives of the government and everyone is treading with care.
So, in summary, cryptocurrency is currently being banned in Nigeria and everyone dealing with it will be treated as a criminal. This will further render more Nigerians jobless while further increasing the hardship in the economy. Nigeria's government is running the economy down with its bad policies which aim to weaken the youths and crippling by making sure that they don’t have the tools needed to take the reins of the government and do something good for themselves.
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