Categories: Nigeria News

Drama as Innoson denies partnership with Zugacoin Cryptocurrency

Innoson Vehicle Manufacturing has refuted the alleged partnership with Zugacoin Cryptocurrency for the use of crypto currencies in purchasing vehicles.

The Head of Corporate Communications and Affairs, Innosen Group, Cornel Osigwe, debunked the allegations on Monday in a statement entitled ‘Re: Nigerian Cryptocurrency to be used to buy Innoson vehicles’.

He stated that the company did not accept zugacoin or any other crypto currency for the purchase of Innoson vehicles or any other products from Innoson Group.

“We did not sign any partnership with any organisation on the use of any form of crypto currency for the purchase of any product from Innoson Group,” the statement said.

Osigwe said the company stood by the Central Bank of Nigeria’s decision that the use of cryptocurrencies in Nigeria contravened existing laws as they were not legal tender.

James Ewaoche Amedu

Recent Posts

Latest update on fuel price hike, fuel scarcity for November 22nd, 2024

As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…

2 hours ago

Full List of 80,000 delisted companies published by CAC

The Corporate Affairs Commission (CAC) has officially removed companies that failed to file their annual…

2 hours ago

Amended NDLEA Act: Senate approves life imprisonment for drug traffickers, rejects death penalty

The Senate on Thursday agreed with the House of Representatives' recommendation to replace the death…

3 hours ago

Monday Odigie steps down as Bendel Insurance coach

Monday Odigie, the coach of Bendel Insurance Football Club of Benin, has resigned from his…

3 hours ago

Lewandowski reflects on missed Manchester United transfer

Robert Lewandowski has reflected on the time he nearly joined Manchester United in 2012, only…

4 hours ago

Okoye reflects on Super Eagles return after two years

Maduka Okoye has reflected on his first appearance for the Super Eagles in two years.…

4 hours ago