By Shamsuddeen Ibrahim

Dear Esteemed Government Representatives,

As we celebrate this momentous democratic day in Nigeria, we are filled with hope and a collective vision for a nation that stands tall on the global stage. Today, we urge the government to prioritize and address four crucial areas that will pave the way for our country's progress: strengthening security, ensuring stable power supply, integrating technology in education, and embracing the full adoption of blockchain technology.

Strengthening Security: Security is the cornerstone of a thriving democracy. We implore the government to invest in robust security measures that protect our citizens, safeguard our borders, and promote peace and harmony across the nation. By bolstering security forces, enhancing intelligence capabilities, and fostering collaborations with international partners, we can ensure a safe environment for all Nigerians to pursue their dreams and aspirations. A secure nation breeds prosperity and fosters a conducive atmosphere for economic growth and social progress.

Stable Power Supply: Power supply instability has long been a hindrance to our nation's progress. Today, we call upon the government to prioritize the establishment of a reliable and stable power infrastructure. By investing in renewable energy sources, modernizing existing power plants, and implementing smart grid technologies, we can overcome the challenges of the past and guarantee uninterrupted access to electricity for all Nigerians. Stable power supply is not just an essential requirement for industrial growth but also a catalyst for improved living standards and economic empowerment.

Integrating Technology in Education: To shape a prosperous future, we must equip our youth with the knowledge and skills demanded by the digital age. We urge the government to prioritize the integration of technology in education at all levels. By providing modern educational tools, promoting digital literacy programs, and fostering collaborations between academia and the technology industry, we can empower our students to excel in an increasingly interconnected and innovation-driven world. Technological integration in education will unlock immense potential, nurture creativity, and bridge the digital divide, enabling Nigeria to become a global leader in knowledge-based economies.

Full Adoption of Blockchain Technology: Blockchain technology holds tremendous promise for Nigeria's development across various sectors. Embracing its full adoption will enable us to unlock transparency, enhance efficiency, and eliminate corruption. We call upon the government to actively explore and embrace blockchain technology in areas such as governance, finance, healthcare, and supply chain management. By harnessing the power of decentralization and cryptographic security, Nigeria can foster trust, attract investment, and drive economic growth in ways previously unimaginable. Let us seize this opportunity to position Nigeria at the forefront of the global blockchain revolution.

On this democratic day, we stand united in our quest for a brighter future. Strengthening security, ensuring stable power supply, integrating technology in education, and embracing blockchain technology will serve as catalysts for Nigeria's progress and prosperity. We implore the government to prioritize these areas, allocate necessary resources, and work collaboratively to realize our shared vision.

Together, let us build a Nigeria that thrives on the principles of democracy, innovation, and inclusivity. May this democratic day mark the beginning of a new era, where our great nation fulfills its immense potential and stands as a shining example to the world.

With unwavering optimism and commitment, Shamsuddeen Ibrahim.

#Nigeria #Blockchains #Education

Blockchain technology has the potential to revolutionise many industries, including finance, healthcare, and logistics. Africa is home to a young and growing population that is eager to learn new skills. Blockchain education can help to create jobs and boost economic growth in Africa.

Here are 7 advantages of Integrating blockchain studies into the curriculum in African schools:

Blockchain technology is a rapidly growing field. The global blockchain market is expected to reach $39.7 billion by 2025. This growth is creating a demand for skilled blockchain professionals. By teaching blockchain studies in schools, African countries can help to ensure that their students have the skills they need to succeed in this growing field.

Blockchain technology has the potential to transform many industries. Blockchain can be used to improve efficiency, transparency, and security in a wide range of industries, including finance, healthcare, and supply chain management. By teaching blockchain studies in schools, African countries can help to prepare their students for the jobs of the future.

Blockchain technology can help to reduce corruption. Blockchain is a transparent and tamper-proof technology. This makes it ideal for tracking financial transactions and other sensitive data. By teaching blockchain studies in schools, African countries can help to reduce corruption and promote good governance.

Blockchain technology can help to improve financial inclusion. Blockchain can be used to create digital currencies and financial services that are accessible to people who do not have access to traditional banking services. By teaching blockchain studies in schools, African countries can help to improve financial inclusion and economic development.

Blockchain technology can help to protect intellectual property. Blockchain can be used to create a secure and tamper-proof record of intellectual property. This can help to protect artists, inventors, and other creators from copyright infringement.

Blockchain technology can help to promote innovation. Blockchain is a disruptive technology that has the potential to change the way we live and work. By teaching blockchain studies in schools, African countries can help to foster innovation and economic growth.

Blockchain technology can help to improve education. Blockchain can be used to create secure and tamper-proof records of student records, transcripts, and other academic data. This can help to improve the quality of education and make it easier for students to transfer credits between schools.

In conclusion, there are many advantages to adding blockchain studies to the curriculum in African schools. Blockchain technology is a rapidly growing field with the potential to transform many industries. By teaching blockchain studies in schools, African countries can help to ensure that their students have the skills they need to succeed in the 21st-century economy.

#crypto #Binance #BlockchainTechnology #Nigeria

What is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature. It is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

How Can Cryptocurrency Help Nigeria's Economy?

Cryptocurrency has the potential to help Nigeria's economy in several ways.

Improved Financial Inclusion

One of the biggest challenges facing Nigeria's economy is financial exclusion. According to the World Bank, only 39% of Nigerians have access to formal financial services. This means that a large portion of the population is unable to save, borrow, or invest their money. Cryptocurrency can help to improve financial inclusion by providing a way for people who do not have access to traditional banking services to make and receive payments.

Reduced Transaction Costs

Another way that cryptocurrency can help Nigeria's economy is by reducing transaction costs. When you send money using a traditional bank, you have to pay fees to the bank and the recipient's bank. These fees can be expensive, especially for international transactions. Cryptocurrency can help to reduce these fees by eliminating the need for intermediaries.

Increased Transparency

Cryptocurrency transactions are recorded on a public ledger, which makes them more transparent than traditional bank transactions. This transparency can help to reduce corruption and improve accountability.

Increased Investment from Foreign Investors

Foreign investors are increasingly interested in investing in Nigeria. However, they are often hesitant to do so because of the country's unstable political and economic climate. Cryptocurrency can help to attract foreign investment by providing a more stable and secure way to transfer money.

Conclusion

Cryptocurrency has the potential to help Nigeria's economy in several ways. By improving financial inclusion, reducing transaction costs, increasing transparency, and attracting foreign investment, cryptocurrency can help to boost economic growth and improve the lives of Nigerians.

Additional Benefits of Cryptocurrency for Nigeria

In addition to the benefits mentioned above, cryptocurrency can also help Nigeria in the following ways:

Increased Trade

Cryptocurrency can help to increase trade between Nigeria and other countries. This is because it can be used to make payments without the need for a third party, such as a bank. This can make it easier and cheaper for businesses to trade with each other.

Reduced Inflation

Cryptocurrency can help to reduce inflation in Nigeria. This is because it is not subject to government control. Governments often print more money to pay for their debts. This can lead to inflation, which makes the value of the currency go down. Cryptocurrency is not subject to this problem, as it is not controlled by any government.

Increased Innovation

Cryptocurrency can help to increase innovation in Nigeria. This is because it is a new technology that is still in its early stages of development. This means that there is a lot of room for innovation in the cryptocurrency space. This innovation can help to create new businesses and jobs in Nigeria.

Overall, cryptocurrency has the potential to be a major boon to Nigeria's economy. By improving financial inclusion, reducing transaction costs, increasing transparency, attracting foreign investment, increasing trade, reducing inflation, and increasing innovation, cryptocurrency can help to boost economic growth and improve the lives of Nigerians.

#crypto #Binance #Nigeria #Innovation

The Nigerian currency, the naira, has recorded a good performance at the official foreign exchange market Data shows that the Naira increased in value by 51.38% against the US #dollar at the investors' and exporters' window This followed the Central Bank of Nigeria's promise to continue intervention in the forex markets to help the naira.

Speaking with journalists at the end of the 2-day Monetary Policy Committee meeting on Tuesday, July 25, 2023, the acting Governor, Folashodun Shonubi said: "The role of the central bank is to intervene and keep the market at a fairly stable level. We have our views as to what that level is, and as the market continues to oscillate around that level, if there's a need for us to intervene either by buying or selling, that's the role of the central bank, and we will continue." Data obtained from FMDQ securities that tracked the naira performance at the investors and exports window shows the naira closed at N740.08/$1 on Wednesday. This represents a massive N51.34 or 6.5 percent improvement when compared to Tuesday's rate of N791.42/$1. During trading on Wednesday, there was an increase in liquidity thanks to CBN intervention as the market FX trades rose by 197.3 percent or $101.73 million to $153.28 million from $51.55 million on Tuesday. Nairto dollar black market rate It was a mixed performance for the naira at the unofficial markets.

But in the parallel market, the Naira lost N3 against the American Dollar to trade at N870/$1 compared with the preceding session’s N867/$1. CBN speaks on license status of 2,698 BDCs as Naira falls again The Central Bank of Nigeria has responded to reports that it withdrew over 2,000 Bureau de Change operators' licenses The reports of withdrawal come amid the continued depreciation of the naira at the official and black markets The #CBN and the Bureau De Change Operators of #Nigeria spoke with Legit.ng to set the records straight