Founder, Non-Fungible Token Nigeria (NFT NG), Kingsley Momoh, has said that the governor of Central Bank of Nigeria (CBN), Yemi Cardoso, clamped down on crypto currencies because of inadequate knowledge on block chain.
Momoh said this at Decentralised Finance (DeFi) and Beyond Summer summit, with the theme, ‘Building The Future of Finance,’ held at the Landmark Centre, Victoria Island, Lagos.
The summit brought together digital creators, developers, NFT lovers, block chain technology enthusiasts and thought leaders, empowering them with opportunities on a global scale. The community aims to bring NFT and block chain technology to the attention of the mainstream audience.
Momoh said the idea for the NFT NG Summer summit is to empower Nigerians.
“The idea of gathering mainly youths is to look into the future; 75 per cent of the Nigeria population is young; so, we are creating a platform for them to liberate themselves financially. Given the current state of the Nigerian economy, it is important that our youths are able to take care of themselves financially.”
The aim is to keep our community engaged, and also educate them constantly on various emerging technologies,” he said.
Advising Nigerians, Momoh said: “Crypto currency is not a scam; it will change your life if you do it the right way. The CBN governor clamped down on crypto currency due to lack of knowledge, and that is why we are holding this conference to educate and create a positive narrative for our economy, because in foreign countries, discentralised finance is welcomed with open hands.”
He advised the Nigerian government to reduce its unfriendly regulation on crypto currency.
Also speaking, Founder, Cyber Patron, Adesola Oguntomehin, said: “The first thing to consider is security, confidentiality, integrity and availability. If those three things can be inculcated or brought into the block chain industry, it will protect both the traders and the owner of the block chain company from jeopardising data and others.”