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Nigeria must dispel misconceptions surrounding crypto to salvage business future

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Despite recent claims linking cryptocurrencies to illicit activities, such as terrorism funding, it is crucial to recognize that financial crimes are not unique to cryptocurrencies. In Nigeria, cash remains the most prevalent means of conducting illegal activities.

Experts in financial matters have said that enhancing regulatory measures across all financial systems is essential to prevent misuse, rather than singling out cryptocurrencies as a disproportionate threat.

He argued that by confronting these challenges head-on, Tinubu has the opportunity to set Nigeria on a path towards sustainable growth and prosperity. He said: “Upholding transparency, accountability, and integrity as non-negotiable principles of governance is essential to rebuild trust, attract investment, and pave the way for a brighter business future for all Nigerians.

In reviewing the present Administration’s one year in office, many analysts have alleged that government disseminates false figures and paints an inaccurate picture of Nigeria’s economic landscape, dishes out exaggerated GDP growth rates and overstated employment figures to create a façade of prosperity that diverges starkly from the harsh realities experienced by ordinary Nigerians.

 

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