By Oyindamola Ruth
At least 250 individuals have so far signed a petition demanding immediate reversal on crypto currency ban in Nigeria.
The petition on the UK government and parliament website accused the government undermining Nigerians right to property.
Here is the petition on change.org:
No law criminalizes trading of cryptocurrency in Nigeria. The recent directive by the Central Bank of Nigeria to banks to stop the processing of crypto related transactions is not based on any law and, hence, illegal. To issue such directive, a court of competent jurisdiction must declare crypto transactions illegal. Alternatively, a law must make crypto transactions illegal.
While the Central Bank of Nigeria has a right to issue regulations and/or policies, such policy cannot be made in vacuum. The ban undermines Nigerians right to property.
With the lack of employment opportunities, cryptocurrency have provided legitimate ways through which unemployed youth can earn a living. Poverty has led to insecurity and unrest, cryptocurrency has provided ways to engage the Nigerian youth positively and indirectly promotes security
Economically, crypto has improved foreign currency liquidity in the economy and improved transnational trades.
We demand an immediate reversal of this policy that undermines Nigeria’s ease of doing business plans. #NoToCryptoTransactionBan
As of time of filing this report, over 258 people have signed the petition.