Nigerian automobile and bus manufacturing company, Innoson Vehicle Manufacturing Company Limited, has debunked the news stating it authorized Nigerian cryptocurrency to be used to purchase its vehicles.
According to a statement signed by the Head of Corporate Communications and Affairs Innoson Group, Cornel Osigwe, the company stated that,
“Based on various enquiries through calls and emails to @Innosonvehicles on whether it accepts zugacoin or any other cryptocurrency for the purchase of Innoson Vehicles or any other products from Innoson Group, we, by this medium, do state that we stand by the decision of the Central Bank of Nigeria that the use of cryptocurrencies in Nigeria contravenes existing laws as they are not legal tender.
“We did not sign any Partnership with any organization on the use of any form of cryptocurrency for the purchase of any product from Innoson Group.” it stated.
Innoson Vehicle was founded in 2007 by Chief Innocent Chukwuma Nwala, and runs a plant in Nnewi in the state of Anambra, and it is nicknamed Pride Of African Road.