Bank

Bitcoin

James

A Nigerian crypto activist and politician, James Otudor, has taken a bold legal stance to fight for Nigerians’ fundamental rights to own, use and trade in Bitcoin, Tether and other cryptocurrencies.&nbsp;
In an X post, Otudor <a href="https://x.com/dgr8otudor/status/1821796054733340841" target="_blank" rel="noopener nofollow">announced</a> his move against several government and regulatory entities, including the president of Nigeria, the minister of finance, the attorney general of the federation, the <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/central-bank-of-nigeria"></a><a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/central-bank-of-nigeria">Central Bank of Nigeria (CBN)</a>, the Nigerian Securities and Exchange Commission (SEC), the Economic and Financial Crimes Commission (EFCC), the Nigerian Police Force, the National Information Technology Development Agency (NITDA) and the Nigerian Communications Commission (NCC).
<h3 data-ct-non-breakable="true" id="crypto-restrictions-challenged">Crypto restrictions challenged</h3>
Otudor told Cointelegraph that the hearing for the case began on Aug. 9. He emphasized that Nigerians who wish to acquire, use or trade Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>), Tether (<a href="https://cointelegraph.com/tether-price-index">USDT</a>) and other digital assets are being victimized and that their fundamental human rights are being infringed upon.
“It is our submission that the rights to acquire Bitcoin and other digital assets have been severely infringed on, as the Federal Republic of Nigeria and its agencies have forced telecom companies to prevent and restrict innocent Nigerian citizens from acquiring, holding and accessing these assets,” Otudor stated.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/58989f51-f3f5-4f07-9319-742b6ccbb98f.png" alt="Nigerian activist battles for Bitcoin rights in major legal challenge" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/dgr8otudor/status/1821792525771825316" target="_blank" rel="noopener nofollow">James Otudor</a>
 </figcaption>
</figure>
Otudor’s argument is based on the premise that the <a href="https://cointelegraph.com/news/nigerian-police-arrest-blord-crypto-crackdown">ongoing targeting and persecution</a> of Nigerians who own and use cryptocurrencies constitute a clear violation of their fundamental human rights. 
He highlighted the importance of Bitcoin and other digital assets as essential tools for protecting savings from inflation and facilitating international transactions, particularly in the face of the Nigerian naira’s devaluation and foreign exchange shortages.
<h3 data-ct-non-breakable="true" id="lawsuit-demands">Lawsuit demands</h3>
Maurice Oru Ebam, the human rights lawyer representing Otudor in the case, has made several demands in the lawsuit. These include an immediate reversal of the ban on all cryptocurrency exchange platforms, ensuring unrestricted access for all Nigerians.
Related: <a href="https://cointelegraph.com/news/nigerian-crypto-advocates-demand-reform">Nigerian crypto advocates push for regulatory reforms amid protests</a>
Ebam requested a declaration that the infringement, victimization and human rights violations of those who own, use or trade Bitcoin, USDT and other cryptocurrencies in Nigeria are unlawful, unconstitutional and illegal.
A provision for the regulation of Bitcoin and other cryptocurrency assets’ integration into the Nigerian financial ecosystem if the federal government wishes to act as a regulator, with a specific call to regulate Bitcoin as a commodity, is also part of the requests made by the plaintiff.
This lawsuit comes when Nigeria’s stance on cryptocurrencies has <a href="https://cointelegraph.com/news/nigerian-sec-new-crypto-compliance-rules">been increasingly stringent</a>. The Central Bank of Nigeria has <a href="https://cointelegraph.com/news/cbn-criticizes-binance-unauthorized-banking-nigeria">imposed various restrictions</a> on cryptocurrency transactions, and the regulatory environment has been challenging for crypto enthusiasts and businesses.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-phishing-scammer-hedera/">Crypto-Sec: Phishing scammer goes after Hedera users, address poisoner gets $70K</a>

Nigerian activist battles for Bitcoin rights in major legal challenge

Table of Contents

Cointelegraph

Other articles published on Aug 9, 2024

POPCAT Buyers Cashing in as Stage is Set for $NOTI

Bitcoin.com Launches V-Card Debit Card In Self-Custody Bitcoin and Crypto DeFi Wallet App (9 Aug)

Why Ethereum’s Recent Dip Is a Buying Opportunity You Can’t Miss!

Binance Labs' New Investment: What is Particle Network?

Chart of the week: Сloser look at SUI’s price action

Solana Down More Than 3% Within 24 hours

Join our free newsletter for daily crypto updates!