nGE predicts boom in cryptocurrency trading as startups seek regulation
Speaking yesterday at a Shareholders’ Meeting held in Sango-Ota area of Ogun state, Chief Executive Officer (CEO) of the organization, Mr. Abaraham Badiru said that Numeric Global Exchange embrace is poised to promote financial independence and abundance of wealth through the platform.
“What we are advocating is to see more people embrace cryptocurrency trading. Cryptocurrency is a decentralized “digital or virtual currency that uses cryptography for security” making it difficult to be counterfeited. No one knows the sweetness of a well prepared food from afar. This is why we have invited Shareholders of Numeric Global Exchange (nGE) across Nigeria to deliberate on how to further exploit the benefits in this trade, while we also exchange same opportunity with other Nigerians. Very soon, I foresee more in the growth of this trade in Nigeria, ” he explained.
His Co-CEO, Mr AbdulRahman Agbaje corroborated his colleague saying he would enjoin more Nigerian to tap into the offering of their organization. “We are here to create abundance opportunity for the people to make earnings through Bitcoin and other similar e-currency.”
One of the organization Shareholders, Alhaja Binta Dikko expressed delight at the coming of Numeric Global Exchange for the promotion of Cryptocurrency in Nigeria noting that more Nigerian will soon join them.
Earlier, Mr. Adeshina Akinyosade, General Manager of the group has expressed hope in the rise of e-currency in Nigeria and Africa. “The digital currency platform is on the rise across the African countries such as Kenya, Ghana, Uganda, Nigeria, South Africa and Zimbabwe over the past few years. Bitcoin, particularly has received overwhelming patronage. Financial experts are of the view that in line with quest for more financial inclusion, cryptocurrency may be on its way to being adopted by more African countries soon”, Akinyosade said.
Meanwhile, Nigeria’s financial technology startups have called on the Central Bank of Nigeria (CBN) to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to areas like Rwanda and Europe while fomenting uncertainty, according to the Electronic Payment Practitioners Association of Nigeria (E-ppan).
Ade Atobatele, founder of Gboza Gboza Technology Ltd, a member of the E-ppan association, while speaking at a conference organised by the fintech lobby group in Lagos said: “Noting how technology develops at a rate much faster than financial regulators can cope with, some regulatory oversight is needed to give direction and to tackle issues around risk and service delivery.”
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