Innoson Motor Denies Partnership With cryptocurrency Organization, Zugacoin

The leading indigenous Vehicle Manufacturing company,Innoson motor has denied any partnership with crypto Organization, Zugacoin  on the use of any form of cryptocurrency for the purchase of any product from Innoson Group.

The company has revealed that they  stands by the decision of the Central Bank of Nigeria that the use of cryptocurrencies in Nigeria contravenes existing laws as they are not legal tender.

The Head of Corporate Communications and Affairs, Innosen Group, Cornel Osigwe, debunked the allegations on Monday in a statement entitled ‘Re: Nigerian Cryptocurrency to be used to buy Innoson vehicles’.

Nigeria’s first automobile manufacturer tweet that the false development has been received with positive reviews, as some persons have expressed delight in the partnership.

“We did not sign any partnership with any organisation on the use of any form of crypto currency for the purchase of any product from Innoson Group.

The company noted that Innoson Group has received various enquiries on whether it accepts Zugacoin or any other cryptocurrency for the purchase of Innoson Vehicles or any other products from Innoson Group since the news broke out on Friday.


Why cryptocurrency?

This offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money.

Many crypto startups have emerged in the space during this pandemic to cater to the ever-increasing demand for cryptocurrencies.many cryptocurrency prices have been on the rise, and investors are wondering why

Innoson Denies Partnership With Crypto Organization, Zugacoin


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