Despite the Buhari regime’s and the Central Bank of Nigeria’s (CBN) indefinite ban on cryptocurrency commercial trading, 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 his re-election bid.
With only a few days until the gubernatorial election, which was originally scheduled for Saturday but has now been pushed back a week to March 18th to allow the Independent National Electoral Commission (INEC) to reconfigure the Bimodal Voter Accreditation System (BVAS) machines, Sanwo-Olu has implemented policy changes to entice young voters in Lagos.
Mr Sanwo-Olu stated in a video issued by the governor before of the election that his government is committed to establishing an enabling climate for cryptocurrency to prosper despite a ban on such.
Banning Crypto Is Best For Nigerians – Emefiele says
“… and techpreneurs, we are committed to working with all stakeholders to promote the growth of tech and blockchain industry including cryptocurrency in Lagos state. We are proud of the achievements of our young people and we believe their success is a testament to the potential of our state, Mr Sanwo-Olu said in the clip as he continues on a journey to win people over.
In one such move, the Lagos state government began the process of releasing impounded vehicles to their owners free of charge and without the payment of fines last week Saturday, a move the state transportation commissioner, Dr Frederic Oladeinde, said is to relieve Lagosians of the naira redesign policy crunch.
The Buhari regime, through the CBN, had placed an indefinite ban on cryptocurrency trading and ordered commercial banks to block any accounts caught up in the activities in February 2021, claiming the digital currency is used for money laundering and terrorism, in a decision that sparked widespread outrage from mostly young Nigerians.
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