Adamu Garba

By Funmilola Olukomaiya

Former Nigeria presidential aspirant Adamu Garba has stated that investing in cow business is better than any form of cryptocurrency business.

Adamu said this while reacting to the Central Bank of Nigeria’s directive to banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems.

The apex bank on Friday gave the directive in a circular released to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions.

The controversial businessman who took to Twitter to air his view on cryptocurrency business in a series of tweets wrote that many people have lost money in Crypto schemes, which they would have avoided if they invested in Cattle ranching.

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“Better Investments! Those who might have lost their monies through a shortcut business called Crypto should learn to invest on real assets, like cows, which assured of huge returns on investment.

Cow Ranching business is more lucrative than all cryptocurrencies combined.

Lol.”

See his tweets below

According to reports, Nigerians especially youths have traded 60,215 Bitcoins, or more than $566 million USD.

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Also, CBN had warned in the past that digital currencies such as bitcoin, litecoin, and others are largely used in terrorism financing and money laundering, considering the anonymity of virtual transactions.

The apex bank had also said that such currencies are not accepted as legal tender in Nigeria, warning people against investing in them.