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Home Business News Business

Nigerian cryptocurrency to be used to buy Innoson vehicles, others

Chike Olisah by Chike Olisah
March 13, 2021
in Business, Cryptos, Markets, Spotlight
Mixed reactions trail Innoson’s SUV, its replica design of Chinese vehicle
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Zugacoin Cryptocurrency, founded by a Nigerian, can now be comfortably used to purchase any type of vehicle, motorcycles, plastics and all the other products under the INNOSON Group anywhere in the world.

This follows the sealing of a business partnership deal between Archbishop SamZuga of Zugacoin and 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.

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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SamZuga, a philanthropic cleric said, “Let it be on record all over the world that ZUGACOIN was first Cashed out/ withdrawn/ changed into Fiat currency on 3rd March 2021 by 13 minutes after 11 Antemeridiam (a.m) Nigerian time against all odds.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.’’

READ: 4 cryptos gain over 400% in a month, far outperforming Bitcoin

With this, Zugacoin can be withdrawn as any Fiat currency of choice successfully without hitches.

In case you missed it: The Central Bank of Nigeria had placed some level of restrictions on the use of cryptocurrency in Nigeria, with a directive to all deposit money banks to close all crypto-related accounts.


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Tags: Innoson GroupZugacoin
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 11

  1. Yamazanda says:
    March 13, 2021 at 9:07 pm

    ZugaCoin is of no use Since CBN had ban cryptos in Nigeria.

    Reply
  2. Nneka says:
    March 13, 2021 at 10:05 pm

    How do I patronize zugacoin?

    Reply
  3. Micah says:
    March 14, 2021 at 7:43 am

    Which exchange currently lists ZugaCoin and what is its ticker?

    Reply
    • S.ali says:
      November 27, 2021 at 8:44 pm

      How to do that

      Reply
  4. Zugacoin is Scam says:
    March 14, 2021 at 12:29 pm

    In oSince shouldn’t dent the image of his company with that scam Zugacoin. Hiw can a coin once valued at over 59k usd worth less than 200 usd now?

    Reply
  5. Patrick Uchechukwu Obasi says:
    March 14, 2021 at 12:54 pm

    Haven read the article above am interested and will like to aquire zugacoin. Let promote our own .

    Reply
  6. Chizoba Egwu says:
    March 15, 2021 at 6:08 am

    I would like to purchase the Zugacoin but my problem is what is the stand of the Nigerian government on it?
    Who can help me out please?

    Reply
  7. Lukman says:
    March 15, 2021 at 9:15 am

    Is this zugacoin is REAL.. how real it is????

    Reply
  8. Anayo says:
    March 15, 2021 at 3:49 pm

    Can Innoson himself, confirm and reveal the veracity of the above article attached to his name and company?

    Reply
  9. Ken says:
    March 15, 2021 at 4:29 pm

    Ps give more expose on SamZuga, at least it has to sell itself to the public first and foremost. Who is the cleric SaZuga. U see where Oyibo people excel, before unleashing ithself on to the public, a company or product is first presented to the public by way of advertisment,literature or detailed product profile that lives no one in doubt as regards its formation, Mission & Vision thus preparing the inquisitive public as to how authetic it is and to build trust beforeo it can be embraced. Short and simple, Chike Olisah, I believe you’re a professional in the field of public information to appreciate the issue at stake. Give us more info about SamZugacoin. This is in the light of recent CBN pronouncement regarding Cryptocuurrency dealing in Nigeria. The public should be educated on why or how SamZugacoin is different, where it’s coming from, the people behind it, its address and other very salient issues. Thank you.

    Reply
  10. Benedict says:
    June 23, 2021 at 9:58 pm

    Hmmm,,am really interested in this,,does it mean me that have up to #19million worth of samzuga,,can now buy cars etc,,please,,geed me more !!!,,it seems am favouredly rich,…if this is true !!!

    Reply

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