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“Policy to prohibit transaction of crypto should be revisited” – Atiku

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“Policy to prohibit transaction of crypto should be revisited” – Atiku

Former Vice President Atiku has urged Nigerian government to revisit the policy to prohibit the dealing and transaction of cryptocurrency.

The former presidential candidate says it is possible to regulate the sub-sector and prevent any abuse that may be damaging to national security but not to shut it down.

According to him, the economy of the country needs to be open and not closed. In his statement released on his social media page, he stated that the number one challenges facing Nigeria is youth unemployment and that the nation needs are jobs that will open up the economy.

His statement read;

“We Need To Open Up Our Economy, Not Close It

The number one challenge facing Nigeria is youth unemployment. In fact, it is not a challenge, it is an emergency. It affects our economy and is exacerbating insecurity in the nation.

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.”

“It is possible to regulate the sub-sector and prevent any abuse that may be damaging to national security. That may be a better option, than an outright shutdown.

There is already immense economic pressure on our youths. It must be the job of the government, therefore, to reduce that pressure, rather than adding to it.

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.” Atiku added.

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