On the 1st of October, Nigeria marked her 60th Independence from slavery in the hands of the Great Britain. It is always a thing of joy for a child to know that he is actually free from parental control as it were. Freedom sometimes connote maturity and responsibility. Before a child can be left to stay on his/ her own (Free) then it means that he child as to a certain level mature to be able to take responsibilities for his/herself.
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Nigeria is seventh most populous nation of the world, and off course the most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product but yet has a very alarming rate of unemployment. Nigeria's unemployment rate as at the second quarter of 2020 was 27.1% indicating that about 21,764,614 (21.7 million) Nigerians remain unemployed. The Nation's unemployment and underemployment rate (28.6%) is a combined 55.7%.
One would think of a reduced charges in a nation with this high rate of unemployment just to make life a bit eased for the people but unfortunately the case is different as in recent times, the banking industry in Nigeria has been a total mess. Just after the global lockdown due to the Covid'19 pandemic, news of strange deductions of people's funds began to fly through the space and off course pointing a finger of accusation on the government as banks in a bid to defend the banking integrity, the bank themselves denied every finger pointing to their direction and laying claims to the fact that it was a government order for stamp duties charges to be effected in the banking industry and this is really making life miserable in an under-developed nation that hasn't been able to provide a sustainable means of livelihood for her citizens.
Well all is not negative about Nigeria as there is just one news that gave me a big spike and hope for a better Nigeria.
What is New in Nigeria @60
About a few weeks before the actually independence day celebration, there beamed a green light upon Nigeria as a nation when the Securities and Exchange Commission (SEC) in Nigeria published on Friday, 11th September, 2020 endorsed cryptocurrencies and obliges to regulate crypto-token or crypto-coin investments when the character of the investments qualifies as securities transactions.
The memo which was titled "Statement On Digital Assets And Their Classification And Treatment", recognizes "Digital assets offerings" as alternative investment opportunities for the investing public. This development would make the marketing of cryptocurrency project in Nigeria quite easier and interesting. This wouldn't have been possible if no official from SEC had any involvement with cryptocurrency. I think they needed to use their constitutional powers to allow for open trading in the stocks market.
For me this was the greatest news of all time in Nigeria that really interested me bearing in mind the possibilities that are there on blurt blockchain.
Section 13 of the Investment and Securities Act, 2007 conferred powers on the Commission as the apex regulator of the Nigerian capital market to regulate investments and securities business in Nigeria. In line with these powers, the SEC has adopted a three-pronged objective to regulate innovation, hinged on safety, market deepening and providing solution to problems. This will guide its strategy, its regulations and its interaction with innovators seeking legitimacy and relevance.
Unemployment has really been dealt with by this single announcement and it has also given a source of livelihood to some Nigerian. Now this doesn't only tell of BTC or ETH but all other digital assets. This will serve as a bridge. I think that through this, many crypto enthusiast will emerge and this will have a great effect on the unemployment rate in the nation. Person i would be able to tell others to join the blurt blockchain and benefit from the hive engine tokens since Nigeria has now accepted cryptocurrency.
Content creators has a permanent employment on the blockchain and for the economic enthusiasts, Blurt is well able and available to reward them always for content created about money, cryptocurrrency and business and sport lovers can earn sport tokens by creating sport related contents.
Well here is wishing you and all Nigerians all the very best on its 60th anniversary.
Thank you very much sir