Tinubu to youths: We will encourage use of blockchain technology in crypto assets

By Abubakar Yunus Abuja

The presidential candidate of the All Progressives Congress (APC),Bola Ahmed Tinubu said his administration will encourage the use of blockchain technology in finance and cryptocurrency assets if he is elected into office.

Blockchain technology is an advanced database mechanism that allows transparent information sharing within a network.

In 2021, the Central Bank of Nigeria (CBN) directed all banks in Nigeria to close accounts of persons or entities involved in cryptocurrency transactions within their systems.

Explaining the decision, Godwin Emefiele, CBN governor, said it was in the best interest of citizens.

Speaking at a town hall meeting with youths in Abuja, Tinubu said his administration would implement policies that would enable them to take advantage of the opportunities in ICT.

“I promise a thriving digital economy where those interested in pursuing careers of integrity in ICT will be able to do so,” he added.

“We will also ensure that Nigeria can take greater advantage of relatively recent innovations such as blockchain technology.

“I promise to invest in the infrastructure required to boost an already-successful entertainment industry. Working with private sector partners we will bridge the existing gaps to build modern media centers and upgrade existing entertainment venues and stadia across the country to world-class standards.

“My administration will reform the education sector by focusing on quality, access, funding, management, effectiveness, and competitiveness.

“I promise, we will provide good and quality education in tune with 21st-century demands.”

Tinubu also said under his administration, youths would become leading catalysts to drive economic prosperity.

“You will be empowered for individual and collective success. There will be opportunities across the board, and they will be for you. Let us go together,” he said.