RATE Group | Nigeria’s Biggest Opposition Candidate Promises Cryptocurrency Regulation
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Nigeria’s Biggest Opposition Candidate Promises Cryptocurrency Regulation

25 Nov Nigeria’s Biggest Opposition Candidate Promises Cryptocurrency Regulation

Posted at 11:48h in Cryptocurrency News by

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Ahead of Nigeria’s general elections in February 2019, Atiku Abubakar, the presidential candidate of the People’s Democratic Party (PDP)-  the country’s largest opposition party – has included the creation of a “comprehensive blockchain and digital currency policy” in his policy document.

The move comes as a significant surprise as the country’s regulatory establishment led by the Central Bank of Nigeria has consistently held a very cautious albeit non-hostile line toward cryptocurrency.

Break With Tradition

Atiku, who served as Nigeria’s vice-President between 1999 and 2007 is running on the platform of a moderniser trying to disrupt the status quo and spark Nigeria’s slumbering economy into life. The country is still suffering from the twin effects of a devastating 2016 recession and an accompanying global oil price slump which saw the Naira lose 85 percent of its value in less than 24 months.

Nigeria’s financial…

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