Topic: Tinubu's plan for Blockchain and eNaira is appealing despite lacking details. (Read 282 times)

Now make dem just imagine how e go be if dem show the sector small love, like empower youths dem so dem go learn well and get small funding center to they help new start ups. Tinubu enter office today, if him wan fail for any promises wey him talk, make him no fail for this one because person fit craze, I dey expect am to lift both the bans on Bitcoin and cryptocurency in general. Make dem no make the country toxic to all this blockchain project instead make dem welcome dem so dem fit based here and when dem based here, na better job creation dem dey bring so and boys go fit commot streets come work legit work wey go fit pay them welle.

We are building a highly-regulated product; we have to work with the government of the day. One of the challenges that we face—and why we’ve not broken into the market with full strength from day one—is that we have had to wait and talk to the SEC in Nigeria to secure a provisional licence for us to carry out what we’re trying to do. Despite numerous challenges, we were able to follow up until they recently crafted one that suits us. But now we await approvals to pull it through. They are telling us that they are waiting for the new government to come through before they [the SEC] start issuing this licence, because they want to understand [the new government’s tone and approach to policy first].

President-Elect Bola Tinubu mentioned in his manifesto that he has plans aimed at encouraging the use of blockchain technology and cryptocurrencies in Nigeria's finance and banking sector. The policy is intended to promote the prudent use of these technologies to improve identity management, revenue collection, and the use of crypto assets As part of the policy, the government will establish an advisory committee to review the existing regulatory environment governing blockchain technology and virtual asset services. The committee will be tasked with suggesting changes to create a more efficient and business-friendly regulatory framework, where necessary. The government hopes that this will help to attract more investment in the sector and stimulate economic growth. Additionally, the government plans to encourage the Central Bank of Nigeria (CBN) to expand the use of the country's digital currency, the E-Naira. This move is part of a broader effort to promote financial inclusion and create a more accessible and efficient payment system in the country. He also believes that the policy will help to position the country as a leader in the blockchain and cryptocurrency industry, creating new opportunities for businesses and entrepreneurs in the sector.

See excerpts "We will reform government policy to encourage the prudent use of blockchain technology in finance and banking, identity management, revenue collection, and the use of crypto assets. As part of our reforms, we will establish an advisory committee to review the existing regulatory environment governing blockchain technology and virtual asset services and, where necessary, suggest changes create a more efficient and business-friendly regulatory framework. We will also encourage the CBN to expand the use of our digital currency, the Enaira."

What this means:

The policy of encouraging the adoption of blockchain technology and cryptocurrencies, as outlined in the excerpt, is related to the new Nigerian regulation on digital assets, which was introduced by the Nigerian Securities and Exchange Commission (SEC) in 2021. The new regulation provides a framework for the regulation of digital assets, including cryptocurrencies and
other digital tokens, in Nigeria. The regulation requires digital assets to be registered with the SEC and mandates that all digital asset offerings and investments must comply with SEC regulations.

The manifesto suggests a review of the existing SEC regulation on digital assets will be conducted with a view to making it more business-friendly.
For more details read; https://nairametrics.com/2023/03/03/tinubus-plan-for-blockchain-and-enaira-is-appealing-despite-lacking-details/

Despite the indefinite ban placed on cryptocurrency commercial trading by the Buhari regime and the Central Bank of Nigeria (CBN), Lagos state governor, Babajide Sanwo-Olu, is enticing youths in the state by floating the idea of cryptocurrency approval as he embarks on missions to canvass votes in a bid for re-election.
Link to info: https://gazettengr.com/sanwo-olu-entices-lagos-youths-with-cryptocurrency-approval-few-days-to-election/

Tinubu na industrious man no mata any other businesses wey dey rumor say him dey into, the guy get version and many people dun confirm am say his leadership enforced the development wey Lagos dey enjoy so. Like no be him start am oh but wetin him do as him enter power priorities the development and others governors wey follow, follow him foot steps as na him put them there. The only governor wey go against am wey be ambode, dem commot am immediately.

Dem say tinubu na talk and do, so make we dey watch, tinubu himself know say this blockchain adoption go benefit plenty people for him home state Lagos even though dem no vote am and I believe him go try make this happen. What's there to benefit of him making us suffer it won't be any different from what other president has done and he might just want to be different from the rest.

Despite the indefinite ban placed on cryptocurrency commercial trading by the Buhari regime and the Central Bank of Nigeria (CBN), Lagos state governor, Babajide Sanwo-Olu, is enticing youths in the state by floating the idea of cryptocurrency approval as he embarks on missions to canvass votes in a bid for re-election.
Link to info: https://gazettengr.com/sanwo-olu-entices-lagos-youths-with-cryptocurrency-approval-few-days-to-election/

You see this our leaders, them don know sae blockchain na the future and the youths are into it badly. Them they find ways to support am the way they can, not to talk against am. For Tinubu to talk this kind thing, em mean am and em do am without doubt.

From the beginning of the APC government in 2014 campaigns till taken over of government, Tinubu was the spearheaded campaigner who promised Nigerian youths millions of jobs. Till date one {1} job has not been implemented by the APC or Tinubu party in the country.