CoinTelegraph spoke with Adelola Sokoya, the founder of Swift eCurrency , a virtual currency exchange based in Lagos, Nigeria , about various aspects of the virtual currency market in Nigeria. The virtual currency market in Nigeria is still evolving. It is relatively well-organised, not regulated by the government , and has a huge potential for the whole of Africa . Awareness takes root
Lola started by describing Swift eCurrency as a company that simply buys and sells virtual currencies, including perfect money, Bitcoin , Neteller, PayPal , and Stp. He says that this is the major activity of swiftecurrency.com.
He also said that the Nigerian virtual currency market has come a long way since the days of egold, e-bullion, liberty reserve etc, but that there is still a lot of room for improvement and acceptability of virtual currency within the country. He believes the low level of proper internet education within the region is behind the lack of adoption. In his words: “A lot of people around here still see the internet like a playground, where people meet to socialize or while away time after their ‘jobs’ and ‘businesses’, while a whole lot of others still believe that any money-related venture that is internet-based must posses an element of scam . And this comes off the backdrop of the negative reputation that had been built over time during the reign of the ‘advance fee fraud’ which was prevalent within the region. Nevertheless, the proper awareness is gradually taking grounds.” No government in virtual currencies Asked about the government’s position on virtual currencies, Lola said government presence in regard to virtual currencies is almost non-existent. He said that, at the moment, there is no form of regulation of virtual currencies by the Nigerian government simply because the majority of those in […]
