Archbishop Sam Zuga to distribute $2,000 worth of zugacoin to youths, urge FG to embrace digital currency

The Nigerian government have been advised to invest in digital currency so as to transform the country into a robust digital economy.

Founder of the first Africa’s crypto currency known as Zuga coin, Archbishop Sam Zuga gave the advice at the flag-off of the distribution of 2,000 dollars worth of zugacoin to youths on Tuesday in Abuja.

Crypto currency is digital money founded on block-chain technology.

Addressing journalists, Archbishop Zuga said the world is fast becoming a digitised one and Nigeria being the giant of Africa should not be left behind especially in the growth of its economy.

He said the youths who should take over the affairs of the country in the future should be encouraged to promote digital currencies as it is an economy that cannot depreciate.

While emphasising the importance of digital currency, the philanthropist noted that very soon, paper and plastic money like debit cards will no longer be needed for transactions.

He said “Women and youths are the most affected by the economy. So the best thing I can do is to take personal responsibility. I decided to create an impact, add value to the society without being told.

“Today by the grace of God, the same way I took personal responsibility to add value, I decided to inject the same spirit in young people, instead of you waiting for government to help you, you can help government, instead of waiting for them to employ you, you employ them.

“People are so concerned in having a phone, people can borrow money to have a phone. Every young man want to have a big phone but is that phone giving you money? Is it adding problem to you are solving the problem. So for this purpose, I want to teach the young people to do the impossible, the Impossible is coming out of poverty and what they are going to use, is the available, which is their phone.

“I created a platform where I will load young Nigerians and Africans 2,000 dollars worth of zuga coin in their phone. From there I will teach them how they will be able to get the currency of their country through 50 dollars per day. All these things will be achieved through technology.

“I’m not going to make you weak by distributing this money on the street, there is something we are going to do. So the two thousand dollar come with a fee. You will demonstrate interest by giving 1% of that 2,000 dollars. So if you cannot get 1%, it means you cannot manage 2,000 dollars.

“We will now show you how you can convert 2,000 dollars to 50 dollars every day and find a way of how it will keep growing to sustain your life.

“You don’t need to be searching for jobs left and right, you will be the one to employ. Because you will be living comfortably.

The crypto currency expert also assured that a more reliable financial system will be built to help business people save their monies.

According to him “We will build a financial system for business people to help you keep your money because in a short while, from five years above, financial institutions will collapse. Banks will not be in used because their currency is dropping on daily basis not only in Nigeria but all the countries of the world.

“I want to appeal to people that are still doubting crypto currency. Crypto currency is a driver for digital economy. Some of you are looking at it like it is bad but I want to tell you, you cannot escape crypto currency.

“What we are going to do is not to depend on foreign crypto currencies. I had to introduce something that since we are the highest trader of crypto currency in the world, we should also have headquarters of that crypto currency in Nigeria.

“I feel like since we are the one leading ,we should also have headquarters of block chain technology in Nigeria and in Africa” he added.