•Ex-Vice President Atiku Abubakar
This advice, which was contained in a statement on Saturday and made available to Sundiata Post, was in reaction to the directive of the Central Bank of Nigeria (CBN) to banks and other financial institutions to close accounts of any individual who transact in cryptocurrency.
The CBN had told the regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges was prohibited.
He explained that youth unemployment has already become not just a challenge but an emergency that has affected the nation’s economy and was exacerbating insecurity.
He decried that the nation had already suffered severe economic losses from the border closure and the effects of the COVID-19 pandemic.
Atiku warned that introducing policies that would restrict the inflow of capital into Nigeria could harm its economy more and urge the government to revisit the policy to prohibit the dealing and transaction of cryptocurrencies.
He also recommended job creation, expansion of the economy, and removal of impediments towards investments as the way forward.
Read the full statement issued by Atiku below:
What Nigeria needs now, perhaps more than ever, are jobs and an opening up of our economy, especially after yesterday’s report by the National Bureau of Statistics indicated that foreign capital inflow into Nigeria is at a four year low, having plummeted from $23.9 billion in 2019 to just $9.68 billion in 2020.
Already, the nation suffered severe economic losses from the border closure and the effects of the #COVID19 pandemic.
This is definitely the wrong time to introduce policies that will restrict the inflow of capital into Nigeria, and I urge that the policy to prohibit the dealing and transaction of cryptocurrencies be revisited.
We must create jobs in Nigeria. We must expand the economy. We must remove every impediment towards investments. We owe the Nigerian people that much.