Originally published on: August 09, 2024
In a groundbreaking legal challenge, Nigerian crypto activist and politician, James Otudor, is leading the charge to defend Nigerians’ rights to own, use, and trade Bitcoin and other digital currencies.
Otudor recently announced his bold move against key government and regulatory bodies in Nigeria, including the president, finance minister, attorney general, and various financial institutions. The case, which began on Aug. 9, aims to ensure that Nigerians are not restricted from acquiring or using Bitcoin, Tether, and other cryptocurrencies.
According to Otudor, the ongoing restrictions on digital assets are a violation of basic human rights, as individuals are being unfairly targeted and prevented from accessing these financial tools. He argues that Bitcoin and other cryptocurrencies are crucial for protecting savings and facilitating global transactions, especially given the economic challenges facing Nigeria.
Represented by human rights lawyer Maurice Oru Ebam, Otudor is demanding the immediate reversal of the cryptocurrency exchange ban and unrestricted access for all Nigerians. The lawsuit also calls for a declaration that the infringement on cryptocurrency users’ rights is unlawful and unconstitutional.
Additionally, the plaintiff requests that the government regulate Bitcoin and other digital assets appropriately if they choose to integrate them into the financial ecosystem. This legal battle is taking place amidst Nigeria’s tightening regulations on cryptocurrencies, making it increasingly challenging for crypto enthusiasts and businesses to operate freely.
As the fight for Bitcoin rights in Nigeria intensifies, Otudor’s legal challenge could have far-reaching implications for the country’s evolving regulatory landscape. Stay updated on this developing story and more by subscribing to our newsletter for the latest insights into crypto laws and guidelines.