A leading marketing support services company, Sembic International Limited, has clarified its relationship with Jumia and Konga with regards to the acceptance of the cryptocurrency called The Billion Coin in Nigeria.
The company said it was only signed up with the e-commerce companies as an Independent Sales Agent, contrary to a recent media report that it had partnered the firms to boost The Bullion Coin acceptance in Nigeria
In a statement on Monday, the firm said, “Sembic International Limited wishes to state categorically that, contrary to the facts stated in the said article, our company is not in any form of partnership with Jumia or Konga over the acceptance of cryptocurrency in Nigeria, as we are only signed up with them as Independent Sales Agent. Any arrangement for the purchase of cryptocurrency is strictly between us and our clients.”
Sembic has introduced a product called the MoPAS MarketPlace.
The product allows holders of the TBC to shop on e-commerce platforms using naira and the TBC.
The statement read in part, “MoPAS MarketPlace is an initiative and product of Sembic International Limited. This is the first time in Nigeria that an indigenous company has been able to create a solution for the acceptance of the currency of the not-too-long future, thereby positioning Nigeria for the financial revolution, redefinition and disruption that is about to happen through the blockchain technology.”
Commenting on the development, the Chairman, Sembic, Mr. Victor Akinbile, said, “We came up with this product in order to boost digital currencies revolution.
“This is meant to ensure that the TBC holders can, through the MoPAS MarketPlace, shop on e-commerce platforms.
According to Akinbile, many Nigerians have invested in the TBC and seen their investment increase in value on a daily basis.
The chairman, however, noted that cryptocurrencies including the TBC had yet to be fully legalised in Nigeria.
This, he noted, was because the Federal Government through the Central Bank of Nigeria was still understudying cryptocurrencies and the use cases of the blockchain technology.
He said, “As Nigerians continue on their search for a place to spend their TBC, it becomes increasingly frustrating as they cannot find any such place. This frustration has led to desperation on the part of the TBC holders and some criminally-minded individuals have cashed in on this to defraud them.”
Punch
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