Author Topic: INVITATION TO A MEETING ON VIRTUAL CURRENCIES  (Read 1193 times)

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INVITATION TO A MEETING ON VIRTUAL CURRENCIES
« on: August 08, 2017, 07:48:20 PM »

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To
All stakeholders in Abuja


Dear Sir/ma,

INVITATION TO A MEETING ON VIRTUAL CURRENCIES AS EMERGING MEDIUM OF EXCHANGE IN NIGERIA

The Central Bank of Nigeria has commissioned a study on “Virtual Currency as an Emerging Medium of Exchange”.  To achieve the objectives of the study, there is need for stakeholders meeting to brainstorm and exchange ideas with a view to gathering relevant information on the nature, scope and dynamics of virtual currency operations in Nigeria. This would provide input into the report of the committee.
As a key player in the virtual currency landscape in Nigeria, we wish to invite you to a meeting as follows:
Date: Thursday, August 10, 2017

Time: 9.30 am

Venue: CBN Auditorium at the Head Office, Central Business District Garki, Abuja

We also request that you assist in extending our invitation to your colleagues and clients in the following areas of virtual currency operations: Exchange, Wallets providers, Miners, Software developers and Individual Investors.
Attendance can be confirmed by calling or sending a text or email with details (name, addresses and phone number) of your nominees to Mr. Michael Odima-Ojoh on 0806 620 4220 , 09097618881 or moodima-ojoh@cbn.gov.ng on or before 6.00 pm Tuesday August 8, 2017. This is to facilitate entrance into our premises for the meeting.
Please accept the renewed assurances of my highest regards.

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Re: INVITATION TO A MEETING ON VIRTUAL CURRENCIES
« Reply #1 on: August 10, 2017, 07:25:27 PM »
By Famuyide Segun

*The report of the crypto currency meeting held in Abuja by CBN and some cryptocurrency stakeholders on a topic say : VIRTUAL CURRENCIES AS A MEDIUM OF EXCHANGE IN NIGERIA @ central Bank of Nigeria, Business District Garki Abuja Today*

The meeting commenced at about 10:15 am  with many stakeholders across the board in attendance.   Some stakeholders represented different organisations and companies which provides services . Groups such as : Exchangers
Wallets providers
Miners
Transaction service providers
Software developers
Crypto Currency investors and Users and of cause
those who are curious to know what crypto currency is all about were all in attendance.

The Director, Governors Department was represented by Mr Yakasai who gave key note address unbehalf of Director Governors Department.
The CBN  Chairman   on Lead Team  Study on Crypto Currency,  Mr Vincent Wuranti gave a key not address and gave a very  encouraging remarks on Crypto currency and why the meeting was organised which was to brainstorm on
1, The Krypto Currency ,
2, How to domestic crypto currency ,
3 How to  regulate around cryoto currency or protect  investors.
3, How to prevent  crypto currencies being use for money laundering,
4. Administration of tax on  Crypto currency trading and other things and the overall impact on the economy.

One of the stake holders who is an expert on block chain Technology who  took the first session gave a mind blowing presentation in a lay man language with practical demonstration.
The second presenter was Mr Akintunde Olubisi a  CBN staff and a member of Diagnostic workshop on Crypto Currency who explained the opportunities and challenges with the crypto currency, the third presenter was another crypto currency expert who explained to the house on how the Government can  manage and benefit from Crypto currency if they come in fully. The man encouraged  CBN to fast track the process of  taking position on crypto  currency  and possibly come  in with their operational rules and may be  KYC policy .

There was also technical session were  CBN  staff sat and listen  and learnt  from the  brilliant contributions  of all crypto currency guys in the house, from my observation, CBN called all of us to learn from us on how best to come with a policy that can help the adoption and domestication of crypto currency like what Japan , Canada and some other countries  who have accept crypto currncy are already doing .

I saw that CBN has not being sleeping over  crypto currency , Different mwetings have been held wih critical stake holders on financial matters  which includes SEC,  EFCC, FIRS and other  Ministries, Departments and Agenxies of the Federal Government. All of them  are aware that  Crypto Currency  ins genuine  , there is no doubt about that and that it has come to stay and  Nigerians are massively involve in it  .That is why they called the meeting (both Lagos and Abuja meeting ) to learn from the experts  and investors so as to help them in their research  and working documents to come up with the best way to key in this global trend.  the outcome of our meetings and their research works will be submitted to the CBN in order to guide them on policy direction on Crypto Currency.

Questionnaire s were given for all the participants to filled and returned. They also gave their email for  suggestions  and technical advice from any company , groups and individuals, that will help CBN

From my observation, CBN, will come up with indigenous crypto currency (Nigeria crypto currency) which will be under the control of CBN. But experts have give brilliant advice to CBN on how to come  up with the best policy that will help crypto currency thrive in Nigeria. .

Summary report from the meeting at the CBN Auditorium, CBN Corporate Head Office Central Business District, Abuja.

TBC was ably represented by all the TBC Abuja  Community:
By humble self John Bello Onimisi
Simeon akevin Chukwu,
Jeff Adama
Dr. Eso Asuquo
Dr. Alfred Gadzama
Madam Christ, of merchant inspection team of the just concluded trade fair
Abudul  and Famuyide Segun:
nd other great Tbcians.

One thing the CBN acknowledged, that crypto currency and a global stuff and cannot be done away with. The meeting was hot, turnout,  responses , comments WTC were very impressive.
Conclusion: I advice you to hold on to your TBC, something great is about to happen to crypto currency in Nigeria, if you don't hold your coins , you may regret in future. The meeting gave me so much hope and encouragement.