How To Successfully Keep Your Clean Or Dirty Money Legit In Nigeria.

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I saw a Facebook post where a journalist was questioning the source of wealth of most Nigerian Instagram and Facebook comedians and this probably caused an uproar. The truth is, on the surface online comedy seems to be very lucrative and this is often assessed or measured by the frequency of the display of wealth or uploads of evidence, invoices, and receipts of good living.

Naturally, everyone knows that the most prevalent economic issue in Nigeria is unemployment

Nevertheless, what's contradictory to this situation is that many people are thriving, building houses, buying more cars, and living well, so, normally, the number of Nigerians that should be poor should be higher than those that are doing well, so it's often difficult to believe that Nigeria, a place where lives and property aren't secured, how come some people are managing to make untold wealth even without a structural framework or a foundation necessary to do so?


The wealth made from comedy is aggrandizing


........this means that there's more to it than meets the eye. In actuality, the revenue is gotten from paid adverts, affiliate marketing, YouTube revenues, personal adverts, brand influencing, and so on. However, the awkward thing is, to build these streams of income, they'll need tens of millions of viewers which can take time and creative content to reach.

Some of these people find it difficult to be creative for a long period, but then, the display of wealth is showmanship which brings controversies which in turn keeps them more relevant.

Don't get it wrong, being paid in USD is a huge deal, you convert the money to naira and feel huge. The real deal here is that most of these people use comedy as the forefront of their wealth, but they're into other ventures, streaming in the real income for them.

Back to the real reason for this blog post. In Nigeria, trading crypto for example is a crime punishable by the law, cybercrime is punishable by the law (rightly so) However in a bid to extort people, law enforcement agencies are beginning to associate crypto with cybercrime/fraud, while this might look like ignorance, on the surface.

Law enforcement agencies are deliberately synonymizing Crypto with fraud so that they can frame people up for more crimes. People who are into crypto now look for an acceptable front with which they can associate the source of their wealth.

On so many occasions, some of these comedians have been paraded for committing cybercrimes or being middlemen to cybercriminals, but they're often bailed if they can prove that that comedy and the revenue generated from it is the source of their wealth.


Going Legit


I have never been a practicing journalist, and nor have I earned a dime from any journalistic venture, but on most occasions, I've had to present my identity card to show that I'm a practicing journalist and that's is how I get to afford to wear good clothes or own a decent phone. The concept of working online or working from home is now what you can present to law enforcement agents.

Working from home isn't a concept that's currently acceptable. The only people who are sometimes free from this harassment are people who are 9 to 5. These are because these people do not enjoy the quality of time, they earn very little for the time and effort they put in and not the other way round. Truth is, the way Crypto can be life-changing is not acceptable or understandable.


The Truth is......


It's very difficult to beat the odds in Nigeria. If you're not caught in the mire of unemployment, then you're going to face insecurity, even if you're not facing both at the same time. What of the effect of inflation against the money you're earning in crypto, time? These are situations, you can never beat them all.

It's expected for people to suffer, but Nigerians take calculated and uncalculated risks and they're daring at the same time. In Africa, Nigerians own the most crypto. This isn't entirely because other countries in Africa do not see the life-changing feature of crypto, one of the reasons is because some of these other countries have a working economy, some of them are doing well and do not have to look to crypto.

Many of us are beginning to abandon the country in a bid to attain safety and stability. This is my plan for the next four to five years, but for now, keeping my crypto money legit is how to survive the brutality of law enforcement against crypto.




Interested in some more of my works?


Crypto & The Outrageous Learning Curve: My Splinterlands Journey As A Case Study
Understanding & Adjusting To The Real Purpose Of Motivation
Thematic Expression: African Child (Shot & Edited On My iPhone 12)
How I Create Original Images for My Blog & Why This is Important
Budgeting: Paying Yourself First With Crypto
Establishing Compatibility: A Case For Self-Improvement

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@Josediccus, your brother-in-pen & heart


I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog


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24 comments
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How do crypto taxes work in Nigeria?

In the USA, we have Form 8949 basically, which is as far as my ken goes, unfortunately.

I think taxing crypto is a cruelty to the people of the world. We're already taxed on the energy it takes to make the crypto, we're taxed on carbon emissions, we're taxed in many ways beyond the representation that we should be getting in return for our taxes.

What I don't understand most about Africa is how colonization is still alive and well there. China, USA, France, Netherlands and Arabic states still use African labor and lives and enslaved the whole continent and shattered its peoples.

Please keep writing, I enjoyed reading your post.

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Crypto isn't even taxed in Nigeria it's being outlawed, so owning it might make you a criminal in the eyes of law enforcement. There's no tax like some other countries overseas.

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Nice one bro. Though, crypto can be life-changing, these so called influencers showcase an unhealthy amount of wealth that makes them vulnerable. No justification for police brutality, but there wealth always raise questions. Though, most of them just show wealth in the life style of fake it till you make it.

One fine way to protect your wealth in Nigeria is to live according to the standards the country expect you to live, at least, show that you're living that life they want. In a country where being Rich is a crime, the only safe thing is to pretend you're like a general person.

But it's very hard to hide wealth. If you're income increases, your standard of living naturally improves sometimes even without conscious efforts, we just have to keep doing something to protect ourselves.

Though the police is very intrusive, but it's nice you've taken steps against that.

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You're totally right, but even if you live within a means, provided you're a young man and looking okay, without appearing haggard, you're a target for law enforcement. This has happened to me a lot of times.
Living according to standards is another way, but you know, people are always wanting to look far better than their finances, the aspect of fake life in Nigeria is why law enforcement is really targeting Nigerian youths.

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Yea. That's true. Nigeria is not a friendly place to be in. But we move till will are capable enough to leave, since we can't do much to change the situation.

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...but on most occasions, I've had to present my identity card to show that I'm a practicing journalist

Are you kidding me? smart way to avoid being harassed, did you study journalism though?

Working from home isn't a concept that's currently acceptable.

Quite annoying, so people must just slave away!

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Yeah, that's what I actually studied, in my diploma level. It's the smartest way to showcase how I earn my money, if not, I might be cooling off in a cell or being harassed and risk being beaten.

Quite annoying, so people must just slave away!

Exactly, it's annoying, but it's the country we're in, backward as the days goes on.

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Was chatting with Monica yesterday and shared with me 30k Naira being minimum was, and that is 1k in SA rand which doesn't even cover half my monthly rental.

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That's true, some people are still being paid 15k naira by private organisation and it's scary to look at Nigeria and wonder if it'll ever novet forward. The hope here is dead.

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I am kind of glad that I live in the US and there is the constitution that kind of gives us the rights. At least crypto is still legal and they haven't gone crazy on things either. I am just wondering why people stay in Nigeria when things are so bad. I think I saw Belemo saying that he was leaving the country.

The comedian part reminded me of a video that I saw recently. Apparently, a social media influencer promoted safe moon and scammed it after making tweets. So they basically sold the safemoon to their followers.

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If everyone had the means to leave Nigeria, the country will be a wasteland. So it's a question of means. (Money) Another thing is, the choice to move, where to? So many countries are hostile to foreigners and the opportunity isn't even there for work. So many factors. However, I'll still leave Nigeria, in the next 4 to 5 years, God willing.
Comedians influence their audience to buy amiss, it's one legit way to scam people off their money.

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Nigeria is a place where people frown at what they know will move the country to a greater height just because of the benefits they know they will derive from it.

People who are earning crypto are often termed as fraudsters meanwhile those who are even kicking against legalizing crypto most of them already have shares in the crypto world, then you can imagine how wicked and selfish humans are.

I enjoyed reading through every bit of this, well done @josediccus, you're doing well.
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Law enforcement agencies are even legalizing yahoo by taking bribe off these guys when they should be putting them behind bars. Crypto becomes the victim, despite the fact that it's empowering many.
I once heard that a government official used the salary of his staffs to buy BTC hahaha, so these guys are actually buying into like you've said.

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You can imagine how heartless they can be for their own selfish gains.

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This country, I've given up, Canada is on mind hahaha. Sincerely leadership is where we are.

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As in ehn, please remember to tag me along, the country tire everybody 😥😥.

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You really hit the nail on the head with this post champ! It is really what it is in Nig!!

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All the best bro. Leave the shithole for good and do whatever the hell you want. Because you matter. Not the government. Not the boundaries.

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(Edited)

Its quite true that at times some of these comedians or online key persons use their showmanship as a fore front for either theur dubious or legal business. While some are into cybercrimes (exclding crypto) some are into real estates and all.But my problem at times is the very show off they pose on these social space... And why I do not blame some of the police who are looking for whol to devour is that these so-called online people pose a lifestyle resembling those that are into unclean business.
And now, @josediccus the older generation still believe that you cannot get money except through conc., hard work..at times sef my mum still ask how I have not been asking for.money from her during this tertairy education teachers' strike in the country..and trust me I have explained a thoudand times and still does not really understand. But I just do assure her that it is never something that will land me in trouble.😀😀😂

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Have been thinking about how I can make turn my money into legit money in my country and this gives me an overview of how I can go about it. This is what we face everyday

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