To court. American government took Binance to court, and because they are in
court, that's why they can sue them and get all these legal remedies.
But Nigeria has not sued Binance. We've accused them and then we've detained their
officials in Nigeria. So what's gonna happen If they leave nothing, You're not
going to force them to give you data because once they do that with that
legal order, they folk that I've lived that I will sue them, so
they can't. They olim is back here. But if you look at the
Binance protocol, limited are things that says that they can release information, but
you've got to sue them first and then demand that information from a legal time.
For as a law enforcement agency or as a keeper of the national's security,
you simply can't say give this to us in violation of contracts that they've
signed. Loim they welcome to the party tanks for helping back again, what's
your take on this Binance issue? For going to the BTC and the SEC.
What's your take on there? You can sorry for it towards my network
because I was in getting it's it's it's village people. So first of all,
yeah, yeah, go ahead, yes, okay. So first of
all, I think the past few weeks now the information and not from regulatory
sources of all poss I think the government has a path that a lot of
people are well. And you know, one of the problems COVER has always
had is bad because you know, the country is divided by party lines,
fribal lands, windows like these things are really very difficult despite the rationality blassssition.
So first forward, everybody knows that. But as we're restricted, pascularity
or the web brought out about the SEC just to unish their reference capacity in
the FX market. But interestingly, financials compress shudgies and statements, and those
statements show that there was a relationship and the factor at some point they said
between in the last four years, the attended to about requests of the government,
the trade officials, the strict accounts that were useful one laundry years back,
so you know, and especially the fact that they had no regredation in
Nadia. It was that relationship. Because for identity like bance to comment postment
official as glarity, it's not just a method. So the question is what
change now? I watching because that we have a new allutration. And you
know, despite the fact that they by the first to show that they were
pro digitar, it serves that directly change with the audio follow diner now balance
Prince produce with this one that statement that makes it very interested. First of
all, the narration and I've always had that narration, but I just wanted
it to be more efficient because I've always had that narration in all official chats
that yes, Nadia is quite un interested Acadonne it comes to crypto publish your
wise, but when it comes to trading volume, we don't really matter to
them. And that's one of the reasons why despite the the ups and down,
because if you look at binars, but As has over one million users.
Now you're the biggest punk as about technical users, that's not yet And
if you understand markets, they look at value rather than the quantity and value
of the customers. So the first thing they wrote was that yes, you
has an interesting back head that puts is not their top Yeah, that you're
just not their top, not among the top pak. So what they're really
saying is that, well, it's not like we can't do it with you
guys, but because we see the future that you are. You has a
young population and you as interesting people and they see the future. So rather
than just so they've been investing casual because it's not gonna cause by us anything
to have a license with all the visions to be building the government, I
don't see why they want the should cut in the license. The fact that
there's security updated that license a few weeks ago that makes it quite di lookful
for the Interestingly, they wanted to platform. So it also eCos what don't
you go and take that pat Now two things, you know tech in the
US as you can't compare a people forget that the United States is the biggest
markets in the world and it's the financial epics center, so you definitely have
some formal relationship with their network, with their banks, their institutions or like
Nigeria ware it can't be read and opened sidiary. But you see the United
States education the different. Yeah, and you say that, well, bance
post systemic in the FX market and that's where already cent I was like,
how come because if you look at the market, a lot of people don't
realize that does don't have liquidity that sometimes so what if you see them twenty
six billion dollars was transaction not influenced. It makes a lot of sense because
you know, I see said that we moved about his phone big to us
which within a year so balances to us about half more of our billion.
So yes, that makes a lot of sense, but a lot of people
missed we maybe Sibian government influenced, but clarified that. Moving fast forward,
I think there are three issues right now. First, it's not even the
guys, it's not much more of complex issue because first it took a while
for us to confirm that into officials. Secondly, uh, we have agitated
and we have greatest for construction in the market where a lot of Nigeria's survive
and with all employment at one with his ice level and njeans are really upset.
And there's something Binance does that a lot of people don't understand. So
if you look at one of the problems we have with market underpatri risk,
look and for example, I have a relationship with you, so I trust
you. But a lot of people who have that kind of relationship so they
have to view different kind of people. And I want to be okay,
it was that before you execute transactions as God want change your daughter back going
into that it had some form of ESCOM. You back put into work on
the high still to still to look at look look at the point right,
there was an accusation before it was made public, like you said. But
the government correct to bonus and say where tracking this stand down is owned by
a terrorist or it's owned by money laundr and Binance could respond correct. That
happens with every institution that is not in a conventional institution. They react to
requests for until money laundering at the terror they request for that. The point
is that is Nigerian government then accused by us directly of affecting the exchanges of
Nigeria. So that's a serious accusation. I know it's that accusation does not
have merity. It ted party can't influence the academy. You know what geness
is doing that that I'm just looking because I put it lawyers on spaces,
I brought it some experts and I'm listening to both sides. So this is
what different is looking at. They can't do this, you know, yes,
you're saying you channel. I agree definitely because just like guys we said,
they say before even the fact there's government. Before you can get to
set the information, you still have to go to the court, which makes
a lot of sense. Well do anything is that you need to understand the
systems of different network and garagement of different Now the ENSIS objective from what I'm
seeing is that, well they want to givenish that tread. I feel that
and that's why Then what what threat? What that was? What the demand
is? They want data? Like, okay, who are the top users
in Nigeria? Now you talk users? What what? What? Why does
the n S want the top users? And then there are simple reasons I
want to know those possesses demon traits. Now they're not for the data for
these are some of the educations. So when you say they have gone through
the court, I think what they are trying to do is like you know,
because if you look at the Brook News, it's more like and yeah,
but on the on the point is that we're not addressing the you can't
get buyers cannot give any proprietary information or any information. I was given to
it by a customer without a court order, irrespective of pocasks And that's what
he said. Look agree, But their strategy is what they do at newr
Times let me give you if you look at one there was the Apple one
time and that in fact, the government wanted that information, but Apple said,
but they cannot look before and if you remember everything that's America government had
to use something the government on that same story, the government had to unlock
the phone themselves. Apple didn't unlock. It's what I'm saying, So I'm
coming towards I'm coming. I'm coming to what governments. I see. Govern
understands that it's going to be quite complicated and kind of because they have to
go to the show. So what they're trying to do is it's more like
a media trial. When you push for this thing, the will still come
back to the same olimited made the points. Olim the largest economy in Africa
cannot be doing media trials with the largest company. Is that if you look
at what they're achievement now, the last press release statements that what they're willing
to work with government, they have a relationship and they have that. I
understand you. I'm saying, I'm not your side of the government. My
mom saying, because what I'm inside of government is that I've seen what the
cryptomach has done in Parry I have, we said, many countries in that
I've seen, I've seen how criple indust But the matter is that when we
want to have a very solid outcome, you have to look at what both
sides are after. And like I said, government is really about the place
in their system is more concerned about well having the future you are you are
your money guy, right and the money guy there is do you think an
exchange can affect the exchange rate of nyra two dollar? Do you think that
what the government is a legend? Let's even forget what the do you think
that they been since happen me? And you know that that's that's not that's
not likely. But you see one of the fears the government and the standard
fear, like I've said, in the passes to reference point if you look
at the market right now, because many of my friends that when they wanted
to transactions now they have to go through os otses and to confirm from different
sources. At some point you don't need to know to see reference points.
People who just go to the I don't go to my unity engine chat.
That was the concert. But the fact that liquidity know that that was far
from reality. But you know like a lot. Goverment sources will tell you
that they have every reason to have whatever concern because that reference point a loan
pos systemic danger because cal this is if you ask danger, you do f
MT q FX market listing. Don't you know, almost every the market on
the okay problem said, let's let's ask you, let's ask Nigeria, let's
block block that's me here. Listen, block trader says, the forest Trader
is the CEO Block Traders Academy. What's your view on this? Block trader
do you what do you think overall on the government bans action? What's your
take overall? You heard Olimity, You've had my point? What what's your
take? Okay grieving everyone? To me, I don't think it's actually nice
for the government to hold bands responsible for what's going on, because first of
all, Binan's is not the only exchange, but the biggest, the biggest
exchanges, but the biggest. I know that for sure, the biggest.
And another thing recently, I got the information that did just the increase the
exchanger fee for cryptocurrency exchanges. Exchangers to I think it's let me come firm
so I wouldn't be saying a figure that I am not what does that mean?
What does that feel mean? Was that that shows that them increasing that
fee now they're trying to like reduce the number of exchangers we have in the
country because first of all, this Nigeran tech guys they're coming up with all
these bitcoin exchangers application and all that, and the market is already saturated now
apart from ben and Been has been in foreign body, we have other ones
that are owned by Nigerian CEOs, like the tech guys. So now I
think the government increasing that fee, increasing the fee to let me confirm the
figure to one undred and fifteen from tirty million to fifteen million, I think
it's a way for them to like reduce the way Nigerians make use of this.
This is the government. This is sex right, yes, yes,
yeah, it's all about sex. I was I was gonna cover yourself by
so sex has always Yeah, I think it's missing one point there. If
you look at the major outdates or sex you know, exchangerate exchange, the
ex generated, if you look at the major revised GUIDs. Because I've been
looking at you do what we can and trying to the majority ress were like
Okay, they don't want criminals to have anything with the packet. They also
look that they do suppose they had before. So they had that petition of
works well and you know, like you said, the the risk for the
key differences that pulm now or convite on shore off shore that has that also
important people business makes it almost impossible. The feel that they have seen some
systemic individuals that pushing in Ja. That's what the curitures to concer. So
if you look at the advice that is more like a deeper check on people
that have access to that market. Also, they had the better that petition
because probably problems that had you called all virtual access security. So the different
categories and what qualifies you for each and the end of the game was as
that you look for if they would give good for him and to get because
of the level of background check and having that with you get. But the
form of this discussion is that what they're driving that they wants we are old
on crypto markets to Nigia, which I feel is the counterproductive. We're seeing
what do in Nigeria in terms of remits, in terms of employment, in
terms of social stability. Because I love Nigeria, is use this as for
defendmat you see an improvement for example now and if you look at the influx
of capital in the last one year, it's increasing. That's bye the fact
that you could see that Nigeria is not systemic in terms of world I said
that after Injia, Nigia keeves a high percentage of as to value. So
it tells you that the market has the future of amber one. I say
it is okay. I mean I could argue that crypto coming into Nigeria is
a good thing because what is the other side is tript or not coming into
Nigeria. So if crypto is coming to Nigeria, even if you don't go
to the Central Bank of Nigeria, it's liquidity in Nigeria. But it looks
like the CBN and the SEC are saying wanting then the NSCA is saying or
noting entirely. If you try to scare crypto, what will happen to go
on the ground. So that means people like these guys that are here on
this space, Block Trade and his friends will simply do the same crypto,
but will not do it openly. They will simply create their own I mean
when the governmentor about P two P P twop. I had not for a
long time for government got wind of it. There are some going on now.
I won't say anything again because I've learnt my lesson that the government will
not know about. Yeah, what can you see? Good? Listen to
you. This evening is a pro crypto by design. If you look at
the guide gans I look at so there's some banksies. I doesn't like to
mention him because I've done it lot working with someone in the industry. If
you look at for example, blocking capacity, staple coin, look at CPNS
remits outlook for long term plan because today and what you see the problem is
that Nigeria is a country that has different interests like we have the political outside
the security side and the financial side on the financial side, and that's where
the Nigeria. I don't think crypto has a problem there. Where crypto is
having a problem is on the political anti security side, the political and that's
why if you look at the band. If you look at the band,
this ebient had banned cryptoiom before they reinforced it. But this ebient did not
reinforce it. It was a political decision that made the c being reinforced to
show and that's where we are missing the point because when it does make it
the c the sec we are getting the picture wrong. What these agencies are
trying to do is secure the system based on their requirements. But if you
look at it tonight, it evolves the NC involves the presidency devolved love makers.
And that's why I said that Nigerias take people to the political side.
If you want a rule, so you should don't because the truth the matter
was that when we had this issue, was reinforced the PAD. We took
it to the National Assembly procession of saying it was killed it and I said,
well, dinner is supreme as long as they know the secrets. And
I was so sure that these guys doing with you understand the utity value of
the cup industry in Nigeria. But you see Nigeria's first and forgot the politicians
for good. And that's where we are still the mess because we don't even
know who we should we should fight it anyway, Okay, but last last
time, I also get blocked at violence and blocked that got his views across
enough. Last last right, this is not good. Forget about binance or
crypto it's not good that the Nigerian government can detain guests of the Nigerian government.
It doesn't speak well that the government can invite you to come to the
country then detain you indefinitely. What it says is there no foreigner will come
to this country for a meeting when they're not really I don't know how if
we're not getting that part of it. You know, when you win one,
then you lose ten. You know, we're the largest economy where democracy.
But you wake up and you detain foreigners even if I mean people have
come here. There was there were two Indians that I hear that been have
been there on that arrest watch from India. There's a Pakistan that came here
as other arrest watch. There was a guy that came here from Lebanon that
is on the International Travel Band. These guys all came here and flew out
of here. Nobody detained them. But businessmen you might like them, you
might not like them, came in and the NSC arrested them. It doesn't
however, they went through they asked, but they invited them. I understand
what every systems on the matter is that you see, we need to look
at it on murder. The government really not do a good job at the
way because I don't see a problem to work with the government. That's really
what's upsetting me because I done. So what deals with it? You see
reach our police we are police force and the government itself. In fact,
there's a point Bans wanted to open it kind of center as our future zone
if you remembers back. So why does it? Why is this changing?
You know? You know what? You know what? You know what?
What is going on? The limit there? And again last one I want
to get you know what's going on? Is this right? I think the
government's looking for someone to blame for the high exchange value, so they want
to eat their cake and have it. They want to float the ira get
that revenue from in because when a nara is floated, it's more evens for
the government. They want to float the Ira. But they want to say
it's not us that that is causing this pain. It is that guy called
Binance. He moved to the city. One was moved to six billion.
Even mean, does he meant to six billion left Nigeria. It's not possible,
but I want to point to that guy. So everything we're saying here
they are looking for a four guy and unfortunately they've got a four guy in
this gentleman, I mean, sue them. I'm not defending buyers. I
don't know them. But about the moving of go ahead, go ahead,
bloke, block trader, go ahead six and this is a pay to any
money that's coming to I make hiss before you issue before I had to move
to other to go and see exchanges. But what I mean is that if
money is coming through blands, that money leaves binas too. True, it's
it's in an out. The money comes from situation where the money went into
benas and the money didn't come out. I agree, it's in and out.
Yeah, let me also saying that I'm twenty six billion paste beinind it
doesn't. It doesn't. But I think it was a little because it's you
WNT created more confusion. But I don't think FLMENT is trying to repair because
if you look at on the larger context, I think what the government is
just trying to do right now is that they want to hold their market,
but they look at other outlines. You look at all the out coman can
look out as community, especially for banks, it seems that it's getting better
than as depleted. But like you said, it's a bad payer because for
me, I felt that perhap would have been more of an I like that
and would have made it lookings because Nigeria's love cryptal for mostly Nigerians are passionate
about Digitar said, you can't cheat take that away. So name is a
bad You want the election with one toad or the total vote casting? How
do you InFine? You have to be very fame and smart. You don't
think peace that looks or alleged are you trying to how do you unite that
kind of system? That's the problem I have because now no body that has
exposures we see the government as someone that has good. They will not come
here nobody. So if tomorrow now it just just just say tomorrow crypto becomes
illegal legal that maybe the US government says he it will come if Trump Trump
has said he's going he's not gonna look at crypto. If Trump wins,
America is going to go more into crypto with me. As once America goes
more into crypto, then the adoption becomes goes like fire. They will let
me, let me, let let me, let me learn, right,
That means that right, they will come to Africa and they will say,
okay, when should we set up our quote unquote digital clearance center. They
will not come to Nigeria. They will not on him. Yeah, well
crypto, Trump spoke about bit coin, speak about crypt oi. Yeah,
you're going to the weeds. So bitscoll crypto, You're going to the weeds.
If Trump wins and he says bitcoin, if he says he likes bitcoin,
the narrative, body understanding will be that he likes crypto. You know,
that's not going to do more tntalities if the print because he didn't approve
it the last time. Last time, he didn't approve it. This time,
he's saying his for bit coin. If he comes in and he says
sexual slow down on the relation of bitcoin and crypto, and he says he
likes it, it will translate to more adoption across America. That's the fact.
Yeah, very true, because in fact, he will use some NFTs
to raise funds there. The problem yea. The problem, yeah, is
that bit coins ecosystems deep and I'm not saying the signal. The signal matter
is that the United States. I don't think the United States has the rul
on the crypto markets like that's why has been as taken because matter is that
the United States to know how systemnic compared to the who used the US dollars
and on olymited. The United States is the largest, most liquid, most
connected markets. There is no way you can have an adoption globally of anything
in the world without the United States. China has banned crypto, Crypto is
still functioning. If the US tomorrow tomorrow makes crypto illegal to hold, that's
the end. China has banned it, We're still holding it. If tomorrow
US says if you have crypto or basic in any form of version it is
illegal, that's in the market. That's the end because it will be illegal.
So that's the end. My point here I don't seeing. What I'm
seeing here is that I think as the most the most powerful. But do
you take that centralized advantage? What does that mean that finance looping? This
hen't work out? What does the Sillies mean alimined? What do design means?
You still need to take your physical dollar to make it digital? So
what is this when I say it for citizen? What does this mean?
There is no way you can take paper and make it digital without going through
the financial system. There is no way. You still have to get it
in somewhere like getting it's getting tightled to. That's what I'm explained the others.
Now, if you look at you, you play in your steple come
at for example, that's what they But the US city Lea you also have
to follow. I want to say it just busy and being being fine because
they have accounts and Iran and the US made it illegal. But if you
say it's a legal, it's legal because it just bucy p n B very
and then of these years account use, they really outline before me that cryptal
is not allowed. So that's why when people are making this, I don't
understand what it means because traditional finders don't want cryto America always putting this with
network and that's why has another coin tranted. I'm trying to find shot.
So the crypto market, you guys do see crypto markets and the like as
it means. They also because they don't have theirs yet, once they get
fat coin, once they can have a way to get in, they will
make it off it. They want to control it. They don't they don't
have a they don't care like they want to control it. Once they can
control it. Once they have fat coin, they only havergan coin. They
will make it okay, yes, now you can buy fat coin now with
legal That's what they're going to do. China has band crypto, work about
it today. If US bands crypto, no space will have crypto because we'll
all know more visa for us. But let me get Chameleon here, because
he coming on, what's your take on this matter? And then too,
Camela, we're talking about what's your take? Cameloon going once, Cameloon going
twice to you that just to you, that're gonna right, just to you.
Your hand is up, please go ahead. Didn't get it right.
The Camelia was the jump back on. You can't just because I know that
I gotcha a bit. Sorry, But then he can come back and after
time I'll go back to him. Go ahead, Google. But but listen,
I think I think when we as well, I'm born igerant. But
when we the Jurans, complain that there is no FDI, there is no
FDI for this stage, for new stage, for this thing, we can
see a prime example of why that is. Sometimes we think that governance is
about power. But at the times, for the vast majority of it,
it's about competence. And I don't think that the current administration or anybody is
actually displaying any level of competence. So you can attract any further FBI into
the country when you know, while the leading FI, when even leading FBI
is from a currency perspective, it's just under arrest without a charge, no
charge, like like we like, we act like this is normal. This
is this is a best part very behavior. It's a wall two journal.
It's a it's a wall to journal. And the way they crafted it was
that the government is blooming bits called the binands for its figures. That's how
was to general crafted it. That's the narrative in America exactly. And sometimes
we I want to go back to FDA. We talked about FBI, but
like you know, in the wind I journs abroad in the USA, New
York and d C. And you know, we have access to some of
the some of the biggest funds you could ever imagine. But also it's not
that we have access to this some of the mds of some of these biggest
funds in the world. And Europe in Legos went to to w went to
university and legos and then maybe get their masters at M I T or something
like that. You think they don't want to bring in ayes of the country,
but when they can defend actions like this, like so some people can't
even speak in our group chats with like you know, it's it's just a
question mark upon question mark, and so we're shocking fistill come to the country
when they behave like this. And also there's no there's no real mechanism to
actually call out some of this behavior because then it just shifts too. Like
the amount of departments are finding out that exist in government today is ridiculous because
it shifts from this guy to this guy to this guy, and it's like,
okay, so why are you actually holding onto them, like what is
their actual crime? Might actually discuss what that is and then let these people
go. But you know, we don't have a legal system to actually like
sue them or to say you've broken this law. We don't even know what
law they broke. We don't even know if they know what law they broke.
But it's just it's like it's like it's just like it's like the free
for all for all this type of things and then we complain next month that
there's no FDI into this sting into this country. It's it's it's shattorically just
frustrating. Yeah, I mean, I don't the government has a right to
go after anyone that it feels has you know, it's it's the government can't
go after anyone. But the point I'm making that you do it the right
way because we're not a Banana republic. Why not some small African country where
the largest economy in Africa. For crying out loud, you just can't take
people, arrest them and say, oh, let's give us list of ten
names, will not release you. We can't do that. We can we
do. Nigeria has Nigeria sued Paisa. Paisa is in the US large corporation.
We suit them in Nigeria and we won in Nigeria and Paisa paid.
Nigeria also has been sued abroad. We went to a broad defendant and we
did not pay. So it's not what's this issue. We can sue them.
If you have an issue with Binance, go to Dubai, sue them,
go to us, sue them. Then you have the legal clock behind
you. But doing it this way. I don't know, man. And
also I think whether we like it or not, I think over the next
few years we're going to see a change in how the critical they will leave.
Now, if I say that you're doing crypto on your own, they
will leave because they will sue you tomorrow, arrest you tomorrow and say it's
the governanst to find out your ten your ten biggest customers. So they arrest
you tomorrow. They'll say, give us know your ten biggest customers. These
ladies in America arrested have come on, man, it's not just the right
to it. I don't know, man, but let me guess, come
in on it if you can go ahead. Just Also, the last,
the last thing that you were talking about is that you know, the US
doesn't want to be a participant in the crypto game. They want to be
the core center. True, and I think I believe, I believe that
this is what they're stalling for exactly that you know they don't want to control
because no country on Earth talks about their currency without trying to compare to the
US dollar. I know that you know, breaks made some attempts and they
probably will succeed to an extent, but the vast majority, the truth of
the matter is that it's not going to happen. All of the US say
Okay, we want to be the center that we're going to control. You
know, the biggest mistake crypto guys made, I send this all the time.
The biggest mistake they middle of saying we're going to replace dollar. Once
they said that, that was the end of crypto. If they had simply
said we're gonna do transfer, they would have been in business today. But
it's how how can you go and tell the un Nited States is powerful today
because of one or two things. For one thing, they had the reserve
courage in the world. If you buy crypt oil, use dollar. If
you buy cocoa from Nunes, you are used dollar. Whatever you buy in
the whole world, you use the dollar. So how can you come and
tell them that you you want to take that power and crypto can take that
power away. Crypto is better, more efficient, cheaper. If you transfer
money from America to to Africa using crypto, it's faster and cheaper. So
there's a benefit there. But you want to go and tell the guy that
you want to take all that power. The Bible says you first of all,
bind demand before you enter his house. So you're not smart. We're
going to replace you. You have which aircraft carrier we will replace dollar.
But you know it's the problem is that when when I believe it will happen,
it's happens. Yeah. The last country they're gonna look at Nigeria,
and that's a big problem because you know, you know, we spent time
in Kenya and you know, spend Nigeria and things like that, like a
lot of the scriptures even in Kenya. Know that, I'm always like,
why is everyone obsessed with Nigeria. But they're like, listen, well that
Nigeria. Forget about crypto in Africa. But now the current administration the best
of themselves to the point where it's not even going to get a look because
you want to true true. Let's let's let let let's come home. Let's
come home. Let's call names, let's take names. Bola Amid Tinobu is
a is a cosmopolitan guy. He's been around the world. He's mister do
Costopolitan guy being around the world. Cardoso being around the world is a guy
that you know, know what's happening? Do they actually agree that the NSC
can arrest international executives and keep them in Abuja indefinitely untill they produce a list
of ten top crypto users. Is that what we're saying here that these three
people missed that tinobol attable mister okay with this decision to arrest people you invited
and is always saying, well, I think that's just a very fun question.
I think one of the things that we're seeing with this current administration is
that they want to try one hundred thousand things at the same time, and
so what we're seeing is that they don't seem to all be aligned. From
that perspective, I think what should happen is, Okay, this is let
me just let decide set a question for a second, holdu, Right,
when we look at Dubai for example, u A for example, Yeah,
they have one commander in chief, they have one goal and everybody leads on
to that goal. And there's no new magical administration, a new magical department
that's created every other month and something we've never heard of before. Right in
the case of Najera, it's just not the same thing, okay, And
so when you have every when you have different parties that are meant to be
on the same team, you know, doing different things. I can bring
it to a football analogy. When you have a left back that all of
a sudden happens to be on the right way, problems are going to happen
in that corner. So I think there's a little bit of misunderstanding going on.
But that's the result of trying to do one hundred thousand things at the
same time, because perhaps the previous administration or even the one before that has
not managed to even say, Okay, this is what we want from Nigeria
from a from a holistic perspective. So whatever happens is those gonna be causualty
of war. It doesn't matter, it doesn't matter what department is about.
I'm actually not impact entirely sure what department decided that it was okay to detain
these guys. But you hear people like officials like real official. Uh you
know this spokesman to the okay, but the room right, But the spokesman
to the president said they were detained for blahlh blah blah. So this is
this is mister Ballatinbu's spokesman, not the not the NSS. Mister Ballatinus spokesman
said it. So I think that's the point. I don't think that.
I don't think there's sometimes they think holistically things that they say. But that's
just that, just all right, gotcha, let me let me come back
to you. I'm going to head back to this the listener and something you
know. So Camelon are you are you okay to speak now, chameleon?
Okay, let's get Luke Lulu Lulu Nakas, Lulunakas or bitcoin bitcoin guy,
comelon, you can speak? Go ahead, You've got the time. Go
ahead, mister Camelion, go ahead. Okay, let me take your of
sir, Sorry about that. So we've got Lulu Nakaz and it's a guy
here that blocked me. Boy, how is he able to request to speak?
How is that possible? He blocked me, but he can request to
speak? How is that possible? On Twitter? World peace? Please go
ahead? What's on your mind? World peace? H that's interesting if you've
blocked someone? Why I can hear you? Sir? Go ahead? Yes,
hosting space, thank you everyone the listening. So for me, I
know that I'm sorry, probably going to be swimming against the tide here or
going against the grain. But I have my reservations around crypto generally and crypto
adoption, okay. And for me, I feel that it's going to lead
to lots of freedom because eventually governments are going to take control of all the
crypto exchanges or crypto in the world. And so the only way to have
money is to have it digital. And so what if you don't agree with
that government, that means they can take you off the system, okay,
And so you can hold a contrary view. If you do, you're going
to be canceled. You can't earn, you can trade, you can't do
anything. And so I don't know if anyone else has those concerns, and
also if there are ways to sort of make sure that that doesn't happen,
thanks you. But look at it this way. Right now, are you
having your pocket or the door you have? Your pocket today? Is issued
by only the governments. Before the governments issued currency, anybody could issue currency.
Currency issuance was not only, as we say, a function of the
government. The US dollar was issued by many con many individuals and organizations.
Then the US governance says we're going to happen monopoly, saying with the British
bound saying with the Canadian dollar you could issue it and collect Canadian dollar.
You could back it up with gold. But now only governments can issue currency.
Do you have a problem with holding physical paper issued by the government.
Do you have a problem with that? Yes, to ask that question,
yes, governments. Only governments can issue currency, but they can't control the
supply of currency. Whether that government once me likes me or not, I
can still get hold of that currency one way or the other. In short,
even if I like if only drop the level and traffic or whatever,
I can still get hold of the currentsy They can't stop me, right because
they don't. Once they've printed it and is out of the banks, I
can get a hold of it. But now it's they are full central control
causes on some server somewhere, and you know, they just need some EI
or some code to sort of detect me anyway, and that's the end of
it. Right through that marriage of EI blocked, all this scrypture and stuff
is heading to the way where a few people can concentrate power in their hands,
and if you go against them, you can just be dropped off from
the system. Commonly, get you, I agree with you, I get
where you're coming from. That block trader's hands up. The baby has a
blocked that you have what it said? I mean, it's happening in China.
He's not he's not sensulized. It's unusual in China. You have a
credit score, you have a social score. The digital one can be given
to you on your phone and make it can be removed from your phone.
They can see exactly what you're spending, and the case you don't like when
you're spending, can delete their money from your phone automatically. So what's your
take. Okay, that's us going a little bit into the future, because
I don't think Nigeria would opt into that. We're still doing cash let's banking,
Okay, I don't think Nigeria would opt for that option due to certain
reasons. Now, you know, we're in a country that loves moneitary policies
and if all this happens, monitary policies will weaken. Now that's the major
problem. Then young government is having the cryptocurrency because with the high inflation,
seasons are moving their money to US city and this is after in our governments
in terms of the monetary policy being weak. And secondly, there's reduction in
signor edge revenue. Now, this is the revenue the government makes when it
brings money. Now, with the adoption of cryptocurrency by most of it's citizens,
it's going to affect the governments when it comes to this revenue generation.
So I see why they are strongly against cryptocurrency. But it's not something that
would last for so long. Why I say it don't last for so long
is that you can't They cannot fight the massive stargosy truth. I remember when
crypto was banned. I think that was during Wharries regime. That's where they
hope hear to per trading started before Answer even came into the picture. That's
when Luna was banned. I remember back then, we're using Lulu to buy
cryptocurrency. That was when currency awareness really came into the Nigeria and it's recially
through the platform called and then it was bad. All right, all right,
I hear okay, I hear you. The only thing is that they
will have to be I think there's going to be a center and yeah,
I hear okay. I mean that's not all about crypto illuminate. I have
you here. I want to talk to you. About the neirah conveyence as
well, just to say, listen, we now have the nira, the
black market riting quote and the official rate have now sort of like merged more
or less. What's your take on this? Do you think it's government policy?
Is it good? Give me your take on this place, Lumbine,
this conveyence with the nira and the dollar. I was in Lego and I
could go to the bank and the banks they could buy my dollar, but
they couldn't sell to me. The bank had not lot for selling, but
I could sell to them at my at the rate, and the rate was
the same I saw outside as well. So what's your take? Goes,
But I think for stability, price stability has been the major concert for entrepreneurs
and you guers now in our market. So I think that's some positive sport.
When you look at the price is settling and you look at and food
inflation. I look at how for an extreme effects inflation in Nigeria. I
was reading this map and shoot that FXFS it takes that on food inflation.
So when you look at the relata and look at the really suial of the
bank, it's very tricky to say that when you're satisfied, But I'm say
that, like you said, we've said some form of stability, but there
are a lot of things that also made that stability. Community have we said
a couple of banks, but I'm as that many banks are less proactive in
giving cash. We prefer transfers give me its. Before when discipling had also
came in form our CP and government truspended all restrictions. Now it is back
by maximum transfer you can do ten thousand dollars. So all these things also
has some form. Has controul put there to be shortterm stability, and we're
seeing prices also taking remedians coming in play. You saw the excited that FPS
really bought so much of the money instruments products, so that really them some
form stability. But long term, definitely we have serious issues. I don't
see like economist An the British said that a weekend to above two thousands one
good man's success. That well with the recent wins by different government as well.
But I'm in between. I think I'm moving more with eponyments in the
GESU because so far the outside the project padding the cost of the cost of
governance and pour political reforms with high state of security, you know, one
not spill to rub off the concerns, and that yeah, there's isn't a
very quick So we had Goldman's sax say it was going to go neither I
was strengthing, and we had is it the economist Guy Cineta would weakend right,
So we had two opposing views. So who are you turning towards?
Are you going towards the NIRA strengthening to twelve hundred or never weakened into the
eight in the two? What's your what's your take? So when I read
book reports, when I read book reports, I think I lign more with
your promised intelligency because one of the key posts that see the fair government needs
does not have the liquidity They gave case of discipients with the effects assets that
after removing to watives, meeting or loans, you see that the CPS does
not have enough ammunition to keep dinner at the level the market I think is
fair. And when I say market things, first that you look at Cardoso,
you look at the CP Sorry in stuff finers, they've always felt that
diner I should be fell out seven one hundred, two hundreds. So their
conversation say that it's not possible that any way we can get that if we
can get liquidity from foreign players and looking like you could see that what you
want to give you your money. And that's why I just constituted the rope
market as already about fifty from Dubai got in from what five from another For
the idea, it just des by the fact that our presidents are usually the
most travel with that's not on the money. So I think that's why I'm
sticking with you. So it's all about supplying the Yeah, so you're saying
in effect, and we made this point over and every week calling there,
every week we say this, the Narra will only get value. Look at
only one in this is gentlemen and ladies. Oil exports in Niger. Exports
oil your narra. Right when you people come and say where will never be?
Don't ask when I will be. Go to the n n PC website
or even go to the pro shere. Look for the the the crude oil
exports in Nigil. You if could exports go up, then narra will gain
value. Simple, there's no other metrics. If you look at you can
look at remittances, revetans used to be if remetans go up, Nara gains
value. But this normatimes people are not going to P two P. So
the money is coming to Nigeria, but it's not going to the CBM.
So remeatis is a bit funny. Now then you have, of course your
fd I and your f p I. Those ones also have to do with
the macro economic fundamentals. It will take time. What we're getting today is
f PI to take time. But the real measure is that oil export number.
That's just it. If it goes up when we have problems with that
exporting order to aig because you really be the silliest point on. We need
to look at export the cost the operational costs to produce it that is fortid
Yeah, that is very prizing. Look at the arrangement of Nigeria's sharing formula.
Nijia doesn't take at max at the highest side sixty percent because we shared
with we don't take the control the production. So just imagine could prices President,
could the price that paryer the operational contact we can have now out of
that half that yes, but six of the half and put it in one
point three Now okay, if you will add all those conducts a lot of
people have which I refused to as as prime could you still cannot get well
and as well as surprising you saw what all their arm commit that's by the
fact that you can argue that okay, here they control the production production,
but when you look at it with you stay to company profit, then you
see that it would oil. Now it's normal, guys, we need to
get to no pers it did. The problem Nydian oil industry right now is
that we wait too long and that it's going to get to a point where
we'll have oil but will have a way to sell it. Look at what's
happening right now in the world. Saudi Arabia has gone to the United States
and they've bought the shell infrastructure so they can bringing crude oil from Saudi Arabia.
They imported to a refinery in America, they refine in America, they
sell the PMS in America. So this is Saudia has bought the entire value
chain. They have their tankers, they have the refinery, they have defining
stations in America. They're doing the same thing in South Korea. They're doing
the same thing in China, same thing in Japan. They're buying the infrastructure.
Nigeria used to have US as the largest oil exports market. Now we've
lost the tribe because US is not even exporting oil. US is exporting oil,
but Saudi is exporting oil to the US refiners in America. Also,
they have dodged that. Now we're in India. India is the largest oil
buyer. Saudi has gone there. Indians have left Saudi, Nigeria and a
world to start to buy this counted oil from Russia because it's cheaper. So
you get to a position where the largest oil buyers, the US, the
Europe, the India, the South Korea would have locked up contracts with Saudi,
Iran and Russia and Niger will have lots of oil. But know what,
sorry to we're not really diversifying a way that oil we have. Where's
it's saying that the oil we have while doesn't sporting crude oil refiner we now
have maybe cans have to break down that oil to buy prota we can export.
But we're not yet there yet, and I feel that the more we
waste time, the more these green people will catch up with us. Right
now, the biggest risk to Nigeria that I see it's a lawsuiting in New
York saying that crude oil is damaging the world's environment and they will put Nigeria
as a defendant. So crazy, greater girl, just do it and they
will put that building in New York and n NPGP Morgans are as defendants tonight
for Nigeria. Will they win? They don't have to win. They have
to damage the revenue streams so much by defending that case that it won't make
sense to do business. You think it's will happen. They've already sued Exxon,
Chevron Conoco in America on this exact thing and they lost. They're going
to suit them again. They'll sue them again. They will involve everyone.
The idea is to make it difficult or expensive for you to have been the
oil business if not for the Ukraine. World guys, remember that right now
oil and gas was banned from getting any new loans in America. Oil and
gas they included gas. Remember miss one of those VP went to start to
Dubai and what was telling them gas is clean? Why are you banning gas?
But in America today they want to bang gas. In Washington, you
cannot get the passed the law that any new building cannot use gas. Gas
doos that comunatter gas toes. I don't know what their promise. So we
can't use fossil fuels, we can't use gas. Wash your cook food with
wind and solar? What if this is cloudy? What is no wind like
what happened in Texas a few years ago. But that's where these green guys
are going to and as you know, but when it concerns them now that
they're in trouble there, they're using coal in Germany. But they want the
world to be great. Once they get this European use Ukraine, world goes
away, they will come back to this nonsense of banning fossil fuel and Niger
might be caught up, might be too late in the game that we'll have
all secured markets that will take our oil. That's my fear, you know,
so very strategic any energies at fifty percent our gas fifty percentization, This
was a cash cow. With fifty percent you know, we're not exporting my
declining force majure, we're not invested in new trains. So this opportunity that
Russia gas is now being in question or we can't take advantage, big big,
big problem, big big problem with there. So if we can't export
more crude oil, we can't export more gas, and price of crude oil
force to say sixty, this country is overall. I'm not making it.
What if oil price falls to say sixty, it's all over. It's all
over because Loclomdia said, if the price barrel is to produce is forty eight
and oil price is sixty, twiners will now pay an everybody, So a
big problem. Batty your lice B off B summer b summer. Yes,
yeah, yeah, I can well go ahead, all right, so you
just make it points around something earlier, around how easy it's gonna be for
the United States to bann crypto Well, I will basically be talking about it's
going on. Why that is not gonna be as paying forward as to sound.
We not have countries now that are adopting like which country, like which
country? Salvado is not bigger than abbya state. No, I'm making a
point right again, I'm making a point. And China again was it the
last market twenty twenty and twenty they did bann and they did ban cryptocurrency in
the country, But as today, the largest amount of minus. Again,
I can litt talk more about it's going. It's still from China. What
the best thing government can do is just to ban the usage or to ban
the centralized exchanges, right, which is just a fraction of the cryptocurrency market.
So it will its reduce the adoption to some extent. But again,
any end you tried telling any country that's experience inflationary that AGIN and I are
currently using cryptocurrencies and that it's banned. That if the markeages goes underground,
it's tike going to it. Crypto is not going anywhere. Yeah, they
haven't banded the point I made. It's still standing in the US. Let
me ask you a question if you but if you just example, and I'm
not in anything, just example, if cocaine was anti inflationary, If you
buy a bag of cocaine, the price is not fall, it does not
rise. You know, it keeps your money safe. Will you travel with
a bag of cocaine because you want to, but it's banned. The point
I'm making is that cocaine is no B B B. The point I am
making is that cocaine is banned, so you don't even consider any effects whatsoever.
You don't evote go there because it is banned. That doesn't mean anything,
because it doesn't mean anything. What are you talking about it? Would
you okay, let me give you were you said money? Would you got
would you send monetary bank in North Korea because they have zero corte? Would
you put money advantage saying money if if that's your question, if a bout
in lorst Korea offered years The point you're making is again, this will reallymit
if I am used to as in I know about cryptocurrency, right, and
then there is and as in the government or the country chooses to banns is
one thing. If you are not, you're noting this space. And then
the government choose to banners and then obviously it's not something that you're already used
to. I'm talking about this is something that you already live by, right,
as in a large number of people, especially in high inflational countries.
Right, You've got people from is it Turkey, as in any country,
any high inflational country, they are already You've got before Argentina and you got
from most of South America. They are already used to cryptocurrency. So even
with peven in the extent where the country and injured has banned the currency.
The number of times that did not stop because because the U S, the
U S is the only country on earth that can bang it only block.
I'm asking your con I'm askin question when you say you say, allow me
again, point making again different, because then the US can block centralized Actually
even you're actually doing it, and it happened, was it towards the least
last year, a number of the centralized reels from most of the were blocked.
But again that is I think that that that that that can only happen,
that that is the extent of the power of I'm not arguing, see
I'm not again. Oh, I'm just telling is a very simple fact.
The Indians, the the Caaraguans, the Chinese, I cannot ban anything global.
Only the U S can ban something global to have an effect, only
the US. And I'm saying that the reason why if the U S today,
if the US Federal Reserve and the fbn C say, holding crypto blockchain
whatever you call it, is illegal, I am telling you that it will
stop because nobody wants to break the law. Would you know, do you
give me would you now? But it has not been banned in the US.
Now, so what are you boring up the US again? So the
point is, I mean, it's not saying so you are saying that forget
the physibility, sir, cocaine is banned. Coming down to about right,
I mean, what about right now? Is this something the United you are
were not? You are? You are? You are missing an argument completely.
Nobody is saying the US is going to ban crypto. That's not the
argument, sir, Allow me, allow me to allow me to allow me
to make it. I don't just to stay on this a long time.
We're not debating it. The US comment is going to ban crypto, not
gonna bank crypto. It's a very very simple point we're making. We're talking
about the rich the currency did that. The US government is simply trying to
control cryptocurrency. That's why he's doing what he's doing. The instant the US
FED can control the issuers. The regulation they've passed through of crypto, it
would accept it as legal tender. That's all we're saying. Nobody here is
saying they're gonna ban it. US government can. It's not going to ban
it. The point I'm making to you, sir, is. If the
US government wakes up tomorrow and says they want to ban it, they have
their ways of banning it. I'm not the US government. You are not
the US government. The same way they have banned you dealing with Iran,
not Korea, it's the same way they will stop you doing with cryptocurrency.
Let's not go into the weeds of this. We're not we're not experting this.
If they place a sanction on the country, you can't deal with the
country, No bank will deal with you. And if you pass it through,
especially the target terrorism, do you want to be tag as a terrorist
by the US government? Is that what you want? No? So what
why are you talking about? You? Why? Why not caring cocaine?
Even if cannabis is it's not medicinal, Why don't you travel with it?
God is medicinal. Nobody wants wahala and everybody run away from it. That's
the point. I mean, I'm very simple. I'm not going to the
weeds of Okay, this this is that just can't be very simple here.
Looker, Lulu, You've got the point. Luluc Calu, thank you very
much for having me on this space. As usual, as from what I
can see, I can see that you have a cup in knowledge about the
technology, and you know that and probably there's a gap of knowledge and the
difference between you know, bitcoin and other cryptocurrencies. Bitcoin is a very very
unique asset, very very unique in its technology. First, it is a
libertarian technology. The way it was even created itself. You know, it
turns from you know, the need of humans, you know, the fundamental
rights of a human being to own money, to transact freely, you know,
without restriction. So in fact, from what I can see from my
study of bitcoin, as I even think, I'm not I'm not the only
one speculating. It's even I think this technology came from the NSC, the
US security agencies. Because how come that the only cryptographic sequence that the NAC
cannot cryptographic cryptographically crack was the one that sat she used. How all other
cryptographic proofs can be hashed. Okay, you guys, as you start speaking
this big technical grammar, because you quote unquote you have it, listen if
you go, I just want to make your point, make your point.
Yeah, So well, anyway, that's that's that's by the way. So
for bitcoin, I say, oh, the genius of Sati was the technology
in this in this bitcoin bitcoin? But can I ask a question? Can
I ask a question? I? Can I ask you a question? Can
I ask you a question? Sir? I don't start. You can ask
you a question? All right? Go ahead. If I have a paper
paper dollar my wallet, how can I take it to become a digital currency?
How we are going to the internet. No, that's a different thing
entirely. What you're talking about now is called real world asset. Just asking
a way I can take my paper dollar or nira and make it digital without
going through the internet. Of course, not you you can? You can?
You can you do that through the internet. However, they did have
two separate things entirely. Go ahead, These are two separate things entirely.
That's why I said that it's coin and all that cryptos are different. What
you're talking about now is the technology that is employed by something like the USTATA,
the U S d T that you know, it's a tykenization of of
real world assets. Actually, you know, and did that's a different thing
entirely now from the US. Of course, just like they did before where
they stopped everyone from owning gold. You know this, they stopped everybody,
But did that stop people from owning gold. Yes, it did. It
did in America, you could not own gold, it did. No,
No, people still held for jewelry. You couldn't. Don't. You just
answered your own question. You've just answered your own question. You said they
had to hold it on the ground. That was the question I asked you.
So they stopped. So why didn't hold on the ground? Why are
on the ground? Why not? Openly? But point now solves that problem.
Who controls the internet? Who controls the Internet? See what's okay with
the US shut down the Who controls the internet? The Internet central But you
don't think the US government controls the Internet? You don't think so you really
want to tell me that you don't? You don't think so? Okay,
Okay, it's in this centralize I forgot. Okay, sorry, in these
centralized that very they will be shooting themselves on your foot for them to shut
down. I just who I said. But you know, you know you
guys should marry well. I wish to argue. I remember the year nineteen
was in nineteen ninety I was arguing with my friends. They went to foot
Miner. I'm sure that's foot Miller. My two friends there were it Burgos.
They were arguing that the US government cannot read emails. Background Bill Lamon
were just reading, I said, the US government because they created it,
they can't read the emails. It's impossible that there are nodes that because there
are nodes, you can't break the notes. So you carried emails? Where
are we today? Who built the Internet? Who built it? So you're
telling me that if you write an email and you all this telegram that the
NLS you read it without you're telling me because they it's not telling me.
Okay, if you're just telling me, you are correct. Like I said,
I don't I don't know, like the centralized What does that mean?
Every smarty posted? What does that freaking mean? What does it mean?
No? No, jeez, down the internet as of now. I am
not what if I what if I put in say guys, I'm not saying
short the Internet. I'm saying that you guys have been a bit naive here
to say that the US government does not read emails, does not know where
your you think that the US government is not. No, you're a bit
naive here, man naive here, this is naivety. But in terms of
shutting down this, I did not say shut it down, or I did
not say. I didn't use those words. I said, even even banning,
even if I want to travel with my bitcoin, all I need is
my twelve seed? How will it get to your twelve seed? I did,
actually did? I asked you, how did it? How will it
get there? You? I asked you a question. Can I take my
dollars to my to this? You said no, So once I go from
dollar, I must go to the Internet to put it to digital. You
said yes. Now you're telling me what are we talking about? Like I
said, you said, I don't have manager. But I'm asking you simple
questions and you're answering simple questions. So that's the thing with you guys.
You make it so complicated. You can actually change your dollars to bitcoin if
in the market without the internet without the Internet, mister b without the internet.
Yeah, but without the internet, without the internet. If I can't
do it without the how would you do without the internet? Let me let
you know, Let me tell you know. This is South African guy that
looks this U S s d transaction kind of stuff. U S s Now
what does your run on personality? But he works with us? What does
your run on? What does your s s D run on? What does
your s s D run on? There also black board. I'll be on
my black board, I write U S s D. I'll be on my
blackboard. What does your ss D run on? We're talking, we're talking
personal financial cool. Don't don't come here, just move. That's I don't
That's what I don't tell me. I don't have knowledge of internet. How
does over so you used black board to trade their bitcoin? You don't go
to internety blackbird USSD Anyway, anyway, I think okay, let's let let's
let lets let's let's leave it. Let's leave the topic. The point we're
making is we're not saying the US going to go to band bitcoin. What
is said at the beginner of the US government that if mister Trump wins,
there's going to be more adoption of bitcoin and blockchain. We said it here.
We're not anti bitcoin, we said it here. The point the point
where making is that right that if if if the US government decides to make
something illegal, it's illegal, does no matter bitcoin if they make cannot be
legal, it's illegal today. This cannot be in America. Be but you
can't open the bank account but it's illegal, so why not let's not make
it to bitcoin is this doesn't mean anything. There are many things that if
I arrested here in America that they have found their wallets and without them breaking
it, they will tell you this wasn't it. So let's need that matter
entirely. We're not experted. Let us try to reduce the nobody. No,
nobody only cares about this thing. The point I'm making is that it
doesn't matter. Nobody cares about this thing. You're saying what were saying that
I'm not. I'm talking about this. I'm talking about some of the points
I'm making. One around the the The United Statement can show down the Internet
as that now that no one single country can show down. That's just completely
for what happened, what happened in Ukraine? What happened in Ukraine? The
internet work? What happened in Ukraine? What happened in Ukraine? One country
can show what happened in Ukraine can shows to this specific country. But what
what happened to Ukraine when Russia invaded Ukraine? The Ukrainians have internet access when
Russia invaded the firstiva. Let's move on. So let's move on let's move
on. You are completing things. You just agreed that guys just again that
in Ukraine. Guy, if he dies again, guy, let's move on.
Mister Adams, We're talking about lot of issues here, fertilizer conveyence and
p R B T C. What's on your mind? Adams? I can't
proither that. That's too love for me. Finals what's up? Go ahead,
Adams, You've got the floor. Yeah, Adams squared, I can
hear you very well. Oh our apologies. I was just enjoying the back
and forth just now. Your street is so people don't realize what government is.
After God, after God, the maker of everyone and the next was
powerful thing in this life. This government government can do and don't do.
So this evangelist of no one single country can do this. You're most saying
something better than the US waiting there all join before you know. You're having
everybody shutting down, this everybody running away. So that let me just say
what I want to say as regards this bitcoin issue, I think I've made
convention on it on different forums. The thing is we're not considering two things
here, capital flights and control, capital flights and controul. Now I will
ask the question, and I want this our bitcoin evangelists to answer me.
How was bits coin directly directly imparted in nigeria economy? I was bits coin
directly see the word that is not indirectly directly impacted some of all the dig
But I think they have impacted. I think it's been ver very positive for
Nigeria because what they've done is that I've allowed liquidated to flow to Nigeria at
a cheaper cost. There's been a direct impact, direct correation between PE to
P dollar availability and all liquidity. Because don't forget that's where I'm coming from.
I'm talking. I'm answering your questions about capital. How I put it
down, have a libility of the capital I mean to flu in the economy.
So when we talk to those are like stocks. If I buy the
stock of Dangote, for instance, I'm invariably contributing to the economy because Dan
is assessing capital from my phone. That's what I'm saying. So this scripture,
assets or digital set in colds are just various projects in one way or
the other. That in a way, I'm not talking about the old exchange
due processing of fons moving from from one place to another. Of course we
can't take that. That's made it easy. I'm talking about really part so
safely said something. This was what it was fighting that when I'm seeing this
money in the economy, when am I seeing this form? The money is
in the economy. The money is in the economy. You're not saying the
CBN if there was not and then I will be one to ten thousands to
one. It's in the economy, Adams. It's there. You are years
confusing money in CBN and money in the Nigeria economy. If there were no
dollars, it will be ten thousand to one dollars in the niger economy.
That's why when you got to your quote unquote guy on the street, he
gives you dollar, where's he getting it from? The places Adams were hopping.
Adams wanted the please hoppen and maybe give you on take. Yeah,
yeah, okay, I just want to Okay, it's you know and try
that does the truth of the matter is that the group, to mar kead
has the direct part of your economy. Look at your employment. But I'm
going to the histories or that, so I don't know, you can't do
I'll go to the well, teach them. I don't put now to market
as the pattern, there's no questions for that. Now the the key,
the key is that why what liks Nderian gods whether about markets is that you
don't have the judicial over the crypto markets now folds don't go through and folds
that don't go through traditional channels most like and not. That was why from
as there are ones in the black markets, but we don't know how those
ones are coming in and simply worth because traditional influence was at its blue remuts
was as blue, but the black market was built world because there were other
means that the CIBA had no control. And that's where they get worried on.
Yeah, I love that. The point I make is that the money
is coming in, but the cibion has no control. That's what the money
is coming in. Okay, So this is what I'm saying. See,
from the point of pron movements is established to manage and connor if you have
more phones flowing outside government, dann in government, it's dangerous because you don't
know who who is moving these things and forwards. So that's what I'm saying
is your money from the point is my money your money Okay, people might
be is it is it my right? You your money? Is this I'm
supposed to know it? I mean, look, let's let's break it down
now. So you are saying that if I go to America, my auntie
gives me one hundred dollars to gift to my mind. KITCHI you are saying
the government wants to know about that one hundreds and I give you my kitchen.
Is what you're saying, should be able to account why planning? You
know why calendar phones came into Why not tell me why? Because sometimes our
data from the NBA sometimes it's quick. But tell me why they should know
that I'm giving mind kitchen. I want to know for so and so was
this lets three billion dollars and remittians was actually twelve billion dollars? Okay,
But why should the gods look? Why should the government know? It's what?
What? What? What do they want to know for their money?
It's meant to me? Okay, I think this way I'm missing See goverment
is don't actually know. So you said one it's as in plan. It's
what he's saying it does. I'm saying, its economic management. It aps
to know. Okay, for instance, if last year we had the remediants
of three billion dollars and this year we have five billion, and the government
now knows that to position know that, for instance, the government is reporting
that there's a remediance of three billion dollars business official channels and naturally what came
into the economy, what's twelve billion dollars? I am fighting. I find
inflation. I don't know where it's coming from. But how does a dollar?
Okay, but hold on, hold on. If I'm doing the last
two Nigeria to a mind Kitschy number one, it's not there's no inflation there.
What's the inflation there? So that trans actually, but if if if
phones are just for and the government, they're happy, then the government is
happy because money is coming into the country. That the government can then raise
a dollar bond and sweep because market you will not spend dollar monkey to spend
neira. So it is at least strengthen thenira because the market you take that
dollars to have her guy in the village change to nira, which strengthens innira
because now there's more dollar. So now there's now Papa Papa Okoro will now
borrow that's ten dollars from monkey Chi and now import goods from India. Otherwise
Papa has to go to the bank and get dollars at an expensive rate from
the CBN to import from India. So me bringing in dollars is actually helping
the economy. That's that fd I B is the FBI and men should be
to like accounts for everyone for what I'm flows into the But I'm saying it's
not possible to do that. I mean, you go to the US government,
they ask you, I even making more than ten thousand, that's what
they ask you. They really yeah, okay, are you saying the US
government okay, we love you accounts they at least forty percent of the money
influent outload. They can't. They cannot. They cannot because they only ask
you above ten thousand dollars. If I bring nine thouand dollars, they can't
know that. They can't know that why and they don't have to. They
don't bother with that because to them, the impact of nine thousands below okay,
they can they can assess that impact. There the point I'm making to
use this Nigeria needs dollars. We need the dollars if Niger's are bringing inn
twon dollars, I want to even encourage them to bring you more. I
want more. My mind, caitches bringing in one hundred dollars to Nigeria.
I want more. So I want to encourage. I must say, you
must register, you must do this, you must do that. I went
to the airport. Why airport is the airport in Kenya? K here care
They have an eighteen machine. I want to post it have an eightier machine.
You go to the machine, you put your whatever. It gives your
dollars. Care center in Katar. You go to the machine Katar, you
put your whatever you send. The currency wants, it gives it to you.
So the instead of them tracking currency, they are trying to attract you
to bring your money there so they can give you their old local currency and
save your dollars. Every nation wants dollars. That's what we want dollars.
How you bring it to no problem? Some wait twenty six billion, aga,
I you'r wait to six billion? A go down, So tell me
who has twenty six billion? This is how they see. I listened to
the CNN SAT say that make that statement, and I said, what is
talking about only a planifyer for us, we're twenty six billion. How money
is if it's a transit, It's like you go to a Ma mar Put
maput is selling rice one bitter price cost one thousand, so you gave her
one thousand, she gives you pit of fries. Then you now go and
say that Mama Put moved one million. That's just the transaction. What did
she take home? You gave her one thousands, she gave you change,
You gave her water, She gave you play water and she paid her play
water dealer. What is her own what? What left from her own?
Money went out a bit, but money also came in. Banners took money
out of Nigera but Bannan's also brought money into Nigeria. Why are we not
talking about the one that they brought into Nigeria? Why are we talking about
the what I took out of Nigeria. More reptenses come into Nigeria remetes elone
twenty five billion, len Is alone twenty five billion before this pity pitting started,
do twenty five billion. That's what people abroad sent to Nigeria's twenty five
billion millimum after oil is remittances. Why are you even going You should be
making it easy for the just to bring one into night. You are easy
not to say five to this one. Terrorists don't do remutance his true bank.
But that doesn't defindent. Let's let's move on, mister. Mister A
lot a lot to do hiding. So sorry, I got what's up?
I damn my brother? I had a harassing me on my own space again.
Can you just see you see? Can you see I'm be a harassed
tonight? Support I was sorry. Point my point is this regarding bitcoin.
Uh, there is some part to which you are not mentioning. Uh,
the technology behind bitcoin, which is blockchain. It said, this is spirit
technology we are by Bitcoin is use and this blockchain to be real technology in
which government cannot do anything. It's just like you're saying that we should use
at M game. It's just like you saying that other form of psychology that
you should have yourself. We should go back to this analog blocking as technology.
It's superior in what the US government admit to. That. Okay,
use case, listen to me, let me finish. So one of the
use kids is the bitcoin is this talk of value, which is better that
the US is currency, so what to take control? And any government that
does not follow that blockchain and trying to do control is going to be left
behind it. You guys, are you guys? You guys are missing the
point entirely do anything policy. If we list we now lead to you.
If we list the strongest currencies on it, the first ten strongest coins on
it, do you know what they are? It's not the dollar, it's
not the Swiss franc It's ten small, tiny countries that export could oil.
You go see Katar, you Si Kuwait, you see Brunei. Those are
the strongest conses on earth. Why don't we use those currencies as the reserve
currency for international settlements because those countries do not have aircraft carriers that can bomb
you if you try to do nonsense. The reason why the US dollar is
used as the international currency of settlement is because the US can project power.
I mean that the US dollar can be enforced as legal tender. When you
quote blit bitcoin blockchain, it's only a currency. Hold on, hold on,
hold on, hold on. You can only use a currency if it's
acceptable. You can only use a currency if it's acceptable not by the government,
but by the buyers and sellers. December twenty twenty three, in Nigeria,
Nigerians could not do transfers normal transfer. They could not have money to
buy baby food for their babies. In Nigeria. Blockchain uses electricity. Hence
Nigerians were looking not just for those paper currency to buy and sell. We're
all here paper currency, whether it's nyra, whether it's dollar, and there's
no debate that blocking is a better invention. I've said it here. If
you transfer money from the US to Nigeria, it's faster and cheaper with the
blockchain or bitcoin. Said it here. The point I was making is that
you cannot go against the US and say you want to replace the US dollar
with whatever it is. They will fight you. It doesn't matter if you
are right, they will still fight you. If you are the US president,
you will fight blockchain. If blockchain says they will take away your power
to print. The US can print paper, Come to Nigeria and buy crude
oil. It can print paper, go to Saudi and buy cocoa or whatever.
That's power. They are not going to give that power away to you
because your technology is better. That's the point I'm making. Worths you I'm
not debating if it is better or not better. Blockchain is far better.
What I'm telling you is that the US government is not going to allow you
take away their power to print and spend. That's what I'm selling you.
Mode, what's up? Mode, You've got the floor a modern day philosopher.
This is a crazy space. See the long list of things. But
talking about crypto? What don't the philosophy? Mister Carlo? Who how are
you doing, sir? Uh? Good evening, Good goodness, mister call,
good evening, mister lum the good evening and personal space. Well,
I wandered to jump into the conversation when someone was talking about the the implication
of the crypto to the economy. But the mister can't do them clarify that
earlier. So there we need to go back. We are my issues are
bored about the the the the crypto and the dollar side aside. Let me
start with him. He quote from mister Trump, presidential candidate for the US
presidential election for earlier soy later this year he said that a lot of people
are now I'm into the crypto. So yes, my candidate and opinion,
the US dollar can coexist exist with will bitcoin, but depends on the exact
transaction and the motive of the users. Mister Colors playing for international trade,
movement of rights and whatever that is that the US dollars is worth. Is
the king example, the ship system out of you. But then we are
does the crypto coming crypto for me? I believe it is for we as
individuals, not not not as organizations and institutions or countries, but for individuals
to carry out their own personal business without turning the fairness whatsoever. If I
go to the bank and I want to send money at the Western Union,
then I get the government involved. But if I want to transfer money to
mister Caru that is not in Nagera currently, then the government will not be
involved. But it has to be in some level in in in in in
proportion. Let me say, for example, now I keep a undred million
of crypto in the in any word let whatsoever. Now there's no problem.
But if I do transfer that und the milon into a bank account automatically,
I will start having problems because I will experiment on the milon infrom and they
will do an investigation and mister car relate that. Then they know what is
inside inside your crypto wald. Let they can investigate and find out how you
got it, I who got it legally or illegally. So for me,
I will say that them for international and transactions, for countries and what of
you, then they need what they call it, the dollars, the pounds
and whatever they want to use. But for we are h