A pro-bitcoin Nigerian politician and activist has revealed that he has filed a lawsuit against several Nigerian authorities over restrictions on the ownership, use and trading of btc, USDT and other cryptocurrencies in the country. The lawsuit comes after strict measures by the Nigerian government to try and control the cryptocurrency industry.
Pro-bitcoin politician fights for cryptocurrency investors' rights
Nigerian politician, educator, and bitcoin advocate James Otudor has shared details of the lawsuit he filed against key government entities in the country. The suit, filed in July, aims to challenge recently imposed restrictions on the industry and defend the rights of Nigerian cryptocurrency investors.
<img decoding="async" class="size-large wp-image-314454 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.jpg" alt="bitcoin” width=”980″ height=”349″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/08/IMG_4023.jpg?w=1321 1321w, https://bitcoinist.com/wp-content/uploads/2024/08/IMG_4023.jpg?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/08/IMG_4023.jpg?w=768 768w, https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.jpg 980w, https://bitcoinist.com/wp-content/uploads/2024/08/IMG_4023.jpg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/08/IMG_4023.jpg?w=1140 1140w” sizes=”(max-width: 980px) 100vw, 980px” data-recalc-dims=”1″/>
Pro-btc politician reveals lawsuit agaisnt key Nigerian authorities. Source: x.com/dgr8otudor/status/1821792525771825316" target="_blank" rel="noopener nofollow">James Otudor on x
According to the post, the bitcoin advocate believes that those who wish to invest in or already own and use cryptocurrencies are “being unfairly targeted.” As a result, Otudor argues that the rights of Nigerian citizens “as guaranteed by Chapter 4 of the Constitution of the Federal Republic of Nigeria, 1999” have been violated.
The suit is directed at the President of Nigeria, the Minister of Finance, the Attorney General of the Federation, the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), the Securities and Exchange Commission (SEC), the National Information technology Development Agency (NITDA), the Nigerian Police Force and the Nigerian Communications Commission (NCC).
Maurice Eban, legal representative of Otudor, said that the constitutional right to acquire and own property in the country extends to bitcoin and other cryptocurrencies, as they are globally recognized valuable assets:
bitcoin and USDT are globally recognized as valuable assets that protect their holders from inflation and serve as a medium of exchange. Article 43 of the Constitution guarantees all Nigerians the right to acquire and own property anywhere in Nigeria. This right extends to digital assets, which have become essential for financial inclusion and economic stability.
A “peaceful protest” to protect the sector
The landmark lawsuit challenges government restrictions, including the blocking of cryptocurrency trading platforms by telecommunications companies. According to the plaintiff, these restrictions violate Article 14 of the African Charter on Human and Peoples' Rights.
Otudor argues that the “continuous attack” on Nigerian cryptocurrency investors is a “clear violation of their fundamental human rights.” The plaintiff emphasized that bitcoin and all digital assets are vital tools to protect investors from inflation and facilitate international transactions.
The suit highlighted its aim to safeguard these fundamental human rights, “particularly in light of the devaluation of the naira and the scarcity of foreign exchange.” The legal action seeks a declaration that bitcoin users’ rights are protected by law.
<img loading="lazy" decoding="async" class="size-large wp-image-314462 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.jpeg" alt="bitcoin” width=”495″ height=”660″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/08/GUhQAA8WsAAd_VS.jpeg?w=780 780w, https://bitcoinist.com/wp-content/uploads/2024/08/GUhQAA8WsAAd_VS.jpeg?w=315 315w, https://bitcoinist.com/wp-content/uploads/2024/08/GUhQAA8WsAAd_VS.jpeg?w=768 768w, https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.jpeg 495w, https://bitcoinist.com/wp-content/uploads/2024/08/GUhQAA8WsAAd_VS.jpeg?w=750 750w” sizes=”(max-width: 495px) 100vw, 495px” data-recalc-dims=”1″/>
List of remedies requested by the Plaintiff. Source:x.com/dgr8otudor/status/1821794063906988180" target="_blank" rel="noopener nofollow">James Otudor on x
The plaintiff further demanded unrestricted access for all Nigerians to online cryptocurrency exchange platforms and a declaration that the “infringement, victimization and violations of the human rights of those who possess, use and trade bitcoin, USDT and other cryptocurrencies in Nigeria is illegal, unconstitutional and unlawful.”
Finally, Otudor called for the establishment of cryptoassets within the Nigerian financial ecosystem, “recognizing its distinct categories and regulating bitcoin as a commodity.”
The politician and activist closed his statement by calling the action a “peaceful protest” to ensure that the rights of cryptocurrency users and holders are protected and guaranteed. The outcome of the legal battle could have significant implications and shape the future of the challenging cryptocurrency landscape in the country.
<img loading="lazy" decoding="async" class="size-large wp-image-314452 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.png" alt="bitcoin, btc, BTCUSDT” width=”980″ height=”524″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-09_08-45-14.png?w=1102 1102w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-09_08-45-14.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-09_08-45-14.png?w=768 768w, https://technicalterrence.com/wp-content/uploads/2024/08/Pro-Bitcoin-politician-files-lawsuit-against-Nigerian-government.png 980w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-09_08-45-14.png?w=750 750w” sizes=”(max-width: 980px) 100vw, 980px” data-recalc-dims=”1″/>
bitcoin (btc) is trading at $60,491 in the three-day chart. Source: BTCUSDT on x/EESv3Wis/" target="_blank" rel="noopener nofollow">TradingView
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