Former presidential candidate, Kingsley Moghalu, has said that $500 million worth of Bitcoin has been traded in Nigeria within the last five years.
Moghalu who was once the Head of Directorate of the Central Bank of Nigeria, (a unit which he says is in charge of the financial systems), disclosed these figures while reacting to the recent CBN policy which directed all banks to close accounts that transact in cryptocurrency.
He faulted the move of the apex bank, saying that regardless of the risks involved in trading in cryptocurrencies, he would not recommend that it be banned outrightly.
“A lot of the activities in the world are going digital and I would not recommend banning it (cryptocurrencies) outright,” Mr Moghalu said in an interview on Channels Television’s Sunday Politics.
“$500 million worth of Bitcoin has been traded in Nigeria within the last five years and Nigeria is one of the top 10 countries in the use of cryptocurrencies in the world today”.
He further explained that it is becoming a real factor in the country’s investment ecosystem, as well as a livelihood for many Nigerians.
The Central Bank of Nigeria on Friday, ordered all banks to close accounts of anyone who transacts in cryptocurrency.
The order was contained in a circular to banks and other financial institutions, signed by the Director of Banking Supervision, Bello Hassan, and was expected to take effect immediately.
According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited.
However, Mr Moghalu faulted the directive and echoed the sentiments of many other Nigerians, noting that the move is seen as though the government is always taking actions aimed at taking away opportunities from Nigerians especially in a depressed economy.
He believes that any investment has risks and if he was in a position to make a decision, it would be to balance the risks as against the current realities of the country.
According to the former presidential candidate, regular currencies depreciate in value as against cryptocurrencies such as the BTC but many Policies from the bank in the past few years have not been favourable.
“The Nigerian Government should try to make the investment climate far more friendly and efficient than it is now.
“It is unfriendly, that’s why the foreign investment is declining,” he said.
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2023: I Will Restore Unity, Bring Sense Of Belonging To All Nigerians, Atiku Vows As He Emerges PDP Presidential Flagbearer
…Tinubu Congratulates Atiku, Welcomes Former VP To Presidential Contest
…Worthy Candidate, Says Shehu Sani
…‘North Will Always Outsmart Southern Nigeria On Election’, Nigerians React
The Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar has pledged to unify the country following his victory in the party’s primary poll.
Atiku, a former vice president, polled 371 votes to beat his closest rival and Governor Nyesom Wike of Rivers State who scored 237 votes during the exercise held on Saturday in Abuja. Saraki polled 70 votes. Emmanuel (38), Mohammed (38), Anyim Pius Anyim (14), Mrs Tari Diana Oliver (1), and Sam Ohuabunwa (1) shared the remainder of the valid votes.
“I pledge to unify this country,” he said in his victory speech. “That’s why I refer to myself as a unifier.
“The reason I feel that unity is important is because APC has disunited Nigerians completely,” the PDP chieftain added. “I will work to restore unity and bring a sense of belonging to all Nigerians.”
The Adamawa-born politician accused the ruling All Progressives Congress (APC) of mismanaging the country but promised to fix the economy and tackle Nigeria’s security challenges.
“The PDP made Nigeria one of the most prosperous countries in Africa,” Atiku said. “We implemented economic reforms. The APC wiped out all those gains.”
Meanwhile, National Leader of All Progressives Congress and frontline presidential aspirant, Asiwaju Bola Ahmed Tinubu has congratulated former Vice President Atiku Abubakar for emerging as the flag bearer of the opposition Peoples Democratic Party, following the primary conducted at the Moshood Abiola Stadium in Abuja on Saturday.
Tinubu commended Atiku for his patriotism and commitment to Nigeria’s progress.
Tinubu also congratulated the other contestants for the orderly and peaceful way they conducted themselves and for pledging to rally round the winner, in the true spirit of democratic sportsmanship.
He expected the former Vice-president , who was also the 2019 presidential candidate of the PDP, to be his worthy opponent, by the Grace of God and the support of APC delegates, in the coming 2023 President election.
The APC National Leader said Atiku’s victory didn’t come as a surprise to Nigerians because of his vast experience as a statesman and veteran of many presidential contests from 1993.
While welcoming the PDP candidate to the race, Tinubu added that the coming election should be about issues that will improve the quality of life of Nigerians; bring peace, progress, political stability and solve myriad of sociopolitical challenges and insecurity currently facing the country.
“I welcome the victory of Alhaji Atiku Abubakar as the candidate of the Peoples Democratic Party in the just concluded primary. I look forward to squaring up with him as a worthy opponent in the coming election. I have known the former Vice President as a formidable politician and a patriot who believes in the unity and progress of our dear country.
“ As we move further into the election season, I charge the PDP presidential candidate and all political actors across Party lines that we should make this election season one that is devoid of bitterness, rancour and strife.
“We should make our campaigns peaceful and issue based. Election season should be a festival of ideas that will uplift our country and improve the living condition of all our people.
“Unfortunately for the PDP, its candidate will be burdened to explain why Nigerians should give it another opportunity, after squandering 16 years at the central government, without much to show”.
“Nigerians are yet to forget the national ruin and mismanagement of our country for 16 years by successive PDP administration and this bad memory will dog the campaign of the PDP Candidate”
“ Nevertheless, I once again congratulate our former Vice President for his victory in his party’s primary.”
In the same vein, former Kaduna Central lawmaker, Senator Shehu Sani has reacted to the emergence of former Vice President Atiku Abubakar as the flagbearer of the Peoples Democratic Party (PDP) for the 2023 presidential election.
Reacting to the development in a tweet on Sunday morning, Sani congratulated Abubakar for emerging as the winner of the contest.
The PDP chieftain and governorship aspirant was also at the MKO Abiola Stadium in Abuja, the venue of the PDP Presidential primary.
He wrote: “Congratulations to Atiku Abubakar.”
Also, Nigerians on social media have, however, reacted to Atiku’s victory as they expressed their different views.
One Yinkuzeh [@Yinkuzeh71] wrote: “PDP produced Atiku. Delegates can give him the ticket. But will his own kinsmen who are currently suffering under a fulani leadership elect another fulani man as president? He might end up a miscalculation on the part of Pdp.
On his part, PhilCollins_LFC [@PhilColins_O] said: “The North will almost always outsmart Southern Nigeria on election matters. Imagine Tambuwal waiting until the last minute to step aside for Atiku. Wike was busy attacking Peter Obi. APC is likely to go the same way except they learn from this. Meanwhile, #PeterObi to the rescue.”
A netizen, Amalinze the Cat [@DominicNonso96] accused Wike of hating on everybody. He said: [Wike hates everybody. And feels he can’t be touched. After 2023 handover, em go see something.
“Atiku would definitely pick a South Southern person Sha.”
Congratulating Atiku, one ZAKARI ALFA [@zakarialfa2024] said: “God Almighty Allah has done it for Nigeria and Nigerian as Atiku is officially declared the candidate of PDP for the next presidential election. Congratulations to all of us Nigerian.”
1,316 total views, 1,082 views today
Counting Of Votes Commences As PDP Elects 2023 Presidential Candidate
Voting has ended in the presidential primary of the Peoples Democratic Party (PDP) for the emergence of the 2023 presidential candidate of the party.
The delegates from Abuja were the last to cast their votes last at the Abuja National Stadium venue of the PDP special national convention.
Next up will be the sorting and counting of votes.
1,605 total views, 999 views today
I Warned Nigerians Against Voting For Buhari In 2014 – Fayose
The former Ekiti State Governor, Ayodele Fayose, on Saturday reiterated that he warned Nigerians against voting for President Muhammadu Buhari In 2014.
Fayose, who said this during the Peoples Democratic Party (PDP) National Convention in Abuja, said he had been vindicated by happenings in the country since Buhari assumed office in 2015.
The ex-governor is one of the 13 aspirants vying for the PDP presidential ticket at the convention.
He said: “Let me remind you that if I were to be a prophet, I will be making a lot of money. I told you if Buhari was elected and he was indeed elected, he has nothing to offer and the All Progressives Congress (APC) never meant well for the people.
“I want to remind you that I was a two-term governor of Ekiti State and defeated two incumbents at two different attempts, which means if given this opportunity, I will defeat anyone brought forward by President Buhari in a landslide victory.
“Let me remind you that I have a penchant for defeating incumbents.
“Today, I am calling on all of you to equally remember that the PDP should be in the bigger picture. The PDP should be the party, not what we want to tear into pieces. Whoever becomes the flag bearer, we should be ready to work with him. Power comes only from God.”
651 total views, 464 views today
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