Innoson Vehicle Manufacturing has denied an alleged partnership with Zugacoin Cryptocurrency for the use of cryptocurrencies in purchasing vehicles.
The Head of Corporate Communications and Affairs, Innoson Group, Cornel Osigwe, debunked the allegations on Monday in a statement titled ‘Re: Nigerian Cryptocurrency to be used to buy Innoson vehicles’.
He stated that the company did not accept zugacoin or any other crypto currency for the purchase of Innoson vehicles or any other products from Innoson Group.
“We did not sign any partnership with any organisation on the use of any form of crypto currency for the purchase of any product from Innoson Group,” the statement said.
Osigwe said the company stood by the Central Bank of Nigeria’s decision that the use of cryptocurrencies in Nigeria contravened existing laws as they were not legal tender.
