Atiku addresses Bukhari: don’t shut down the cryptocurrency business
Former Vice President Atiku Abubakar: Announces Call for Cryptocurrency
Former Vice President Atiku Abubakar has called on the Bukhari administration not to shut down the cryptocurrency business, as the Central Bank of Nigeria announced Friday.
In a statement he signed on Saturday, Atiku urged the government to regulate the sector rather than a permanent shutdown.
“This is definitely not the right time to introduce a policy that restricts capital flows to Nigeria, and I urge you to rethink the policy that prohibits trading and transactions in cryptocurrency.
“You can regulate the subsector and prevent any abuse that might be hostile to national security. This may be a better option than a permanent shutdown, ”he said.
The statement cited a reduction in foreign capital inflows to Nigeria from $ 23.9 billion in 2019 to $ 9.68 billion in 2020 and said the economy needs to expand, not contract.
Read the full statement:
We need to open up our economy, not shut it down
The number one problem facing Nigeria is youth unemployment. In fact, this is not a problem, it is an emergency. This affects our economy and exacerbates the country’s insecurity.
What Nigeria is now perhaps more than ever is jobs and opening up our economy, especially after today’s National Bureau of Statistics report showed foreign capital inflows to Nigeria are at a four-year low, plummeting from the US dollar. … $ 23.9 billion in 2019 to just $ 9.68 billion in 2020.
The country has already suffered serious economic losses due to the closure of the border and the consequences of the # COVID19 pandemic.
This is definitely not the time to introduce a policy that will restrict capital inflows to Nigeria, and I urge you to rethink the policy that prohibits cryptocurrency trading and transactions.
The subsector can be regulated and any abuse that could harm national security can be prevented. Perhaps this is a better option than a hard stop.
Our young people are already under enormous economic pressure. Therefore, it is the government’s job to reduce this pressure, not increase it.
We need to create jobs in Nigeria. We need to expand the economy. We must remove all barriers to investment. We owe a lot to the Nigerian people.
Source: – PM News