Nigeria is hurting its young people by banning and weaning its financial system of cryptocurrency. This is an opportunity injustice to a generation.
While I am not a crypto person, I hold this belief that nuanced, deliberate and future-forward policies would have helped the central bank and regulators mitigate any risk to the nation’s economy.
As America and Western Europe ascend in this domain, within a decade, Nigerian youth will become mere consumers and spectators in a sector they would have creatively and productively participated in.
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I call Nigeria to change this own-goal policy.
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The regulator brought gunships and tanks to a wrestling match, and they are crushing everyone that tries to enter the ring.
When you are not doing well, there’s that great temptation to ensure that no one is doing well, so that miseries and hopelessness can scale.
They will blame everything under the sun for the ne’er do well economy they have been managing, but always failing to see that they are the actual problem.