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Why is #EndSARS & #Bitcoin Trending All Of a Sudden? | Full Scoop

Earlier today, February 5, 2021, the Central Bank of Nigeria (CBN) released a statement signed by the Director of Banking Supervision Bello Hassan and the Director of Payments ordering financial institutions in the country to stop dealing with cryptocurrencies. (Bitcoin, Ethereum, Litcoin, Ripples, Tron, Dodge etc)

“Further to other regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payment from cryptocurrency exchanges is prohibited.”

In short, all trading of cryptocurrency is banned in the country. No buying, No selling. While reasons for this statement is yet to be made known to the public, Nigerians have taken to their social media platforms to express their views on the issue as trading in Crypto currency is a means of livelihood for many young Nigerians.

While other countries are trying to migrate to the Crypto movement, Nigeria is banning it…. Says twitter users.

In just few hours of the statement being released, #EndSARS has resurfaced on the top trending hashtags in Nigeria alongside #Bitcoin and #WeWantOurCryptoBack. 

Popular Disk Jockey, Dj Switch expressed her view, she tweeted :

If the ban on crypto by CBN is true ehn, it points yet again to the ill informed, backward, poverty promoting dinosaurs 🦖 leading us. Use your time ⌚ to investigate and close accounts sponsoring terrorists in the country if you don’t know what to do!!! GAWD 🤦🏾‍♂️#endsars 🚶🏾‍♂️

Here are reactions from Nigerians below :

 

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