Human

Bank

Bitcoin

James

James Utudor, a Nigerian crypto advocate, has filed a lawsuit against the government, targeting the heavy restrictions on cryptocurrencies.&nbsp;
The lawsuit names the President, the Finance Minister, the Attorney General, and several key agencies, including the Central Bank of Nigeria and the Securities and Exchange Commission.&nbsp;
James is challenging the government’s move to block access to cryptocurrency exchanges, arguing that these actions violate the fundamental rights of citizens. He said:
<blockquote>
 “I’m defending our rights to own, acquire, and trade Bitcoin.”
</blockquote>
James added that he wants to make sure that every single Nigerian out there has the freedom to engage with cryptocurrencies without government interference.
<h3 id="b-government-restrictions-under-fire-b">Government restrictions under fire</h3>
The lawsuit goes after major government entities, including the Central Bank of Nigeria, the Economic and Financial Crimes Commission, the Nigerian Police Force, and several others.&nbsp;
James’s legal team argues that the government’s actions are unconstitutional, citing the case “AG Kaduna State V. Omoru Hassan (1985)” as a key precedent.&nbsp;
They claim that by restricting access to cryptocurrencies, the government is infringing on the rights guaranteed under Chapter 4 of the Constitution.
James’s lawyer, Maurice Ebam, pointed out that Bitcoin and USDT are more than just cryptocurrencies—they are assets that help protect against inflation and facilitate international trade.
<blockquote>
 “Section 43 of the Constitution guarantees every Nigerian the right to acquire and own property anywhere in Nigeria.”
</blockquote>
The lawsuit says that this right should naturally extend to cryptocurrencies, which are increasingly vital in today’s economy.
James is also invoking Article 14 of the African Charter on Human and Peoples’ Rights, which protects the right to property.&nbsp;
The lawsuit claims that the government’s directive for telecom companies to block access to cryptocurrency platforms is a clear overreach.&nbsp;
This, according to James, isn’t about public interest—it’s about unjustly limiting Nigerians’ financial freedom.
<h3 id="b-nigeria-s-hostility-towards-crypto-b">Nigeria’s hostility towards crypto</h3>
The crackdown on cryptocurrency users in the African nation has only gotten worse with the new administration.&nbsp;
With the naira’s value fluctuating and foreign exchange becoming harder to secure, cryptocurrencies have become a safe haven for many Nigerians.&nbsp;
James’s lawsuit demands the immediate removal of all blocks on crypto exchanges, ensuring unrestricted access for all citizens.&nbsp;
He’s also pushing for a legal declaration that protects the rights of all Nigerians to own and trade cryptocurrencies without facing harassment or victimization from the government.&nbsp;
Additionally, the lawsuit calls for new regulations that recognize cryptocurrencies like Bitcoin as commodities within Nigeria’s financial system. 
James rounded <a href="https://x.com/dgr8otudor/status/1821792525771825316" rel="noopener noreferrer nofollow" target="_blank">up</a> saying, “This legal action represents a peaceful protest for freedom and financial inclusion. As a nation founded on human rights, it is our responsibility to ensure that the rights of Bitcoin, USDT, and other digital asset users and holders are protected and guaranteed.”

Citizen takes Nigerian government to court over crypto

Table of Contents

Cryptopolitan_News

Other articles published on Aug 11, 2024

Tornado Cash dev Alexey Pertsev seeks more funding for legal appeal

Crypto Adoption is Skyrocketing Among Young Europeans

Expect Bitcoin ETF options to launch before 2025

Analysts Predict MoonTaurus (MNTR) Will Outshine Pepe (PEPE) with 1400% Growth by 2024

554 Billion € in Q2 2024! French Finance Comes Back to Life

Jasmy and XRP on Explosive Brink: Key Indicators Signal Major Price Movements

Join our free newsletter for daily crypto updates!