According to one of the future presidential candidates of Nigeria, Bukola Saraki, accepting cryptocurrencies as an official payment method wouldn’t be detrimental to the country’s economy. Moreover, Saraki stated that digital currencies created many new job openings, especially for the youth of Nigeria, marking the biggest reason for his support of crypto.

However, while Saraki does support integrating digital currencies and recognizes the benefits, he also recognizes the perils of reckless allowing crypto without a proper legal framework. Especially when it comes to illegal issues such as money laundering activities and crypto-asset abuse, pointing out the Central Bank of Nigeria as the right authority for the job.

The Central Bank of Nigeria, on the other hand, already imposed an outright ban on all crypto transactions in the country, with special emphasis on private bitcoin holdings and other altcoins and labelling them as obsolete in the current financial climate in the country.

Yet, despite the efforts to prohibit crypto transactions, the Central Bank of Nigeria did little to prevent peer-to-peer trading among the citizens of the country. And even more, interestingly, even the Exchanges and Securities Commission of Nigeria actually confirmed this to be the case in one of their latest announcements regarding the rules and regulations concerning crypto.

Saraki is one of the fifteen potential presidential candidates that is supposed to represent the opposition in Nigeria’s upcoming presidential elections. While he is known as a supporter of digital currencies and the job openings that they create for the youth in Nigeria, Saraki still hasn’t actually revealed what he would do with crypto if he was elected, so we guess we are gonna have to wait and see.