Former Vice president of Nigeria, Alhaji Atiku Abubakar has condemned the ban placed on cryptocurrency transactions in Nigeria by the federal government warning that urgent steps must be taken to opening up the economy and create more jobs for the Nigerian Youths.
Atiku made this known in a series of tweet on his Twitter handle on Saturday.
“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.”
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“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.
“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.
