The Innoson Vehicle Manufacturing Company has denied alleged partnership with Zugacoin Cryptocurrency for the use of crypto currencies in purchasing vehicles.
The Head of Corporate Communications and Affairs, Innosen Group, Cornel Osigwe, debunked the allegations on Monday in a statement titled ‘Re: Nigerian Cryptocurrency to be used to buy Innoson vehicles’.
He stated that the company did not accept Zugacoin or any other crypto currency for the purchase of Innoson vehicles or any other products from Innoson Group.
“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 statement said.
Osigwe said the company stood by the Central Bank of Nigeria’s decision that the use of cryptocurrencies in Nigeria contravened existing laws as they were not legal tender.
Earlier, Zugacoin, founded in Nigeria, announced that people can comfortably used their currency to purchase any type of vehicle, motorcycles, plastics and all the other products under the INNOSON Group anywhere in the world.
To buttress this, the company, led by Archbishop SamZuga (now allegedly) ‘sealed a partnership deal’ with Chief Dr Innocent Chukwuma of Innoson vehicle manufacturing company on Saturday, March 13, 2021.
According to a report from Vanguard, the partnership was signed and sealed at the Innoson’s factory at Nnewi Anambra State with reports that other merchants are warming up to become part of Zugacoin’s growing chains of businesses.
Zugacoin Cryptocurrency, founded in 2020 by Nigerian Archbishop Sam Zuga and unveiled on December 1, 2020, a few days ago successfully made its first conversion into Fiat currency.
The archbishop said the cryptocurrency is intended to be used to alleviate poverty and unemployment in Africa.
On Wednesday, March 3, 2021, Zugacoin recorded groundbreaking history as it was first cashed out on that day.
Archbishop SamZuga, a philanthropic cleric said, “Let it be on record all over the world that ZUGACOIN was first Cashed out/ withdrawn/ changed into Fiat currency on 3rd March 2021 by 13 minutes after 11 Antemeridiam (a.m) Nigerian time against all odds. When God says YES nobody can say no. With God all things are possible. All things are possible to him that believes.’’
With this, Zugacoin can be withdrawn as any Fiat currency of choice successfully without hitches
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