“ Bitcoin CT r: 7 will Save Africa…” were the words of conclusion Tony Fakah (MBA), Head of Data Network Planning and Design at Phase3 Telecom, said during an interview with CoinTelegraph CT r: 22 in his office in Maitama Abuja, Nigeria , on Tuesday November 17th, 2015. Fighting corruption and stabilizing economy Tony Fakah works for Africa’s leading independent aerial fibre optic network infrastructure and telecommunications services provider – Phase3 Telecom. The company has a major influence in developing Africa’s ICT market as it implemented the Wire Nigeria Project. The project was conceived by the Nigerian Communications Commission to help provide broadband Internet access to rural communities. That is why Tony Fakah knows what problems his nation faces. The interview discussed the prevailing circumstances plaguing the biggest black nation in the world as it struggles between fighting corruption and stabilizing its economy . It was an offshoot of the ongoing national debate which hovers around the current “foreign currency policy” by the Central Bank of Nigeria. In the circular released on Wednesday August 5th, 2015 and signed by Olakanmi Gbadamosi, the director of trade and exchange , the central bank said its actions followed recent statements by individual banks suspending the payment of foreign currencies into domiciliary accounts. Gbadamosi wrote: “The Central Bank of Nigeria has considered the recent statements by Deposit Money Banks (DMBs) concerning the large volume of foreign currencies in their vaults and the decision to stop accepting foreign currency cash deposits into customers’ domiciliary accounts as a welcome development. Therefore, in its continued efforts to stop illicit financial flows in the Nigerian banking system which aligns with the anti-money Laundering stance of the Federal Government , the CBN hereby prohibits from the date of this circular the acceptance of foreign currency cash deposits by […]
