Cryptocurrency: The Osinbajos Are Wrong – Tope Fasua

Nigerian businessman, author, columnist and sociopolitical reformer Tope Fasua has faulted the Vice President Yemi Osinbajo and his son, Fiyin, for their submissions and suggestions on cryptocurrency.
The 2019 Presidential candidate for Abundant Nigeria Renewal Party ANRP in an article published today 1st March on Premium Times, noting that the the Vice President should know that the Central Bank is especially concerned about currencies and monetary policy.
Quoting Janet Yellen, Tope Fasua noted that cryptos, as a currency, are, for now, very inefficient and at such, it is still very clumsy to buy things with them. And if tomorrow central banks fold up and allow cryptos to take over, that should mean the end of governments everywhere. “However, I have good reason to try and set the good professor straight on this touchy and trending matter. From what I have heard from his students at the University of Lagos, Professor Osinbajo is a legal genius, who could reel out whole books extempore in many aspects of jurisprudence. His interpretation of economics, however, needs some urgent intervention, for the good of Nigeria. No one knows it all”, his article reads in part.
Read also: Cryptocurrency: Regulate It, Not Kill The Goose That May Lay The Golden Eggs – Osinbajo
“One of the more articulate – some will say vehement or angry – reactions to the recent policy renewal of the Central Bank of Nigeria wherein deposit money banks were reminded not to provide platforms for the operations of cryptocurrencies, came from no less than ‘Fiyin Osinbajo, who I believe should be a son to the Vice President . Titled “Making a Case for Cryptocurrency in Nigeria”, ‘Fiyin wrote spiritedly and boldly about the error in the CBN position and gave some comparisons with how the situation is being handled in some other jurisdictions. I believe strongly that his position greatly influenced his dad’s. I also thought that it was quite bold of him because taking a public position on such a matter could become cannon fodder for detractors later. For example, cryptocurrencies are unarguably a haven for corrupt people and money launderers to try and hide and disguise their funds”, Tope Fasua added. Photos Credit: Getty