Let me firstly state that I love my country, good or bad. I have no other to call my own and I am not in any hurry to japa anywhere else. Let me also state that I implore anyone indigene or foreign running any form of business in Nigeria to try and tidy up the regulatory guidelines and tax matters so it doesn't catch up with you. No country jokes with those.
But again, I dare say that one needs a rather weird sense of humor not to go nuts in the Nigerian business and regulatory space. Today it's one statement, tomorrow it is opposite, with the Senate, CBN, SEC and government passing the bucks left and right, chasing shadows and confusing operators.
They denied arresting and detaining Binance executives until it became public knowledge, then they turned and heaped all Binance sins on them. Persons that came of their own free volition for discussions and negotiations. They became 21st century hostages until one escaped.
Along came claims, true or false, bring badges that it is Binance exchange and the likes that are determining the naira exchange rate in Nigeria, no longer the Aboki FX as they earlier claimed. That's like looking for a scape goat for government's economic ineptitude.
Now we see a spurious document on crypto exchanges and freezing of accounts, circulating in banks and suddenly there are denials and counter denials, and we all know it was because the lid was blown off the clandestine move to catch many people napping and in the net.
My take is that Nigeria should spell out their regulations to business operators and the laymen so we all know where we stand and steps to take, instead of this Machiavellian vindictive hoodwinking style of business governance. Like we either take it or die.
On the other hand, I call on Binance as a big Crypto exchange to recognize the vast market in Nigeria and it's strategic position as a player in the crypto industry, and do all in it's power to reach a reasonable agreement with the Nigerian SEC and CBN so that people can go about their crypto businesses without all these underlying fears and tension.
Lastly, there are still so many global doorways to do your crypto business without getting into trouble with the Nigerian government. Be wary and be wise.
I come in peace.