A cryptocurrency expert, JC Okafor has sent crucial advice to the Tinubu-led administration to tackle growing inflation with crypto technology.

In a statement personally signed by Okafor, stated that Nigeria’s current inflation rate of 33 per cent poses a significant threat to the nation’s economic stability and growth.

He said: “As a nation, we urgently need to explore innovative solutions to combat inflation and ensure a sustainable future. As a business tycoon and investor, I strongly believe that alternative investment structures and financial technology (fintech) can play a vital role in stabilizing our economy.

Speaking on alternative investment s, he said: “The government must consider diversifying our investment landscape by exploring alternative investment infrastructure such as: Cryptocurrencies & Digital Assets (As Bitcoin is the best performing asset for over a decade with a market cap of 1.2 trillion),

“Financial Technology (Fintech), Infrastructure Funds: Attracting investment in critical sectors like energy, transportation, and agriculture, Private Equity Funds: Encouraging investment in small and medium-sized enterprises (SMEs).

“These structures can attract foreign investment, create jobs, stimulate economic growth, and reduce reliance on traditional assets.

“Mr. President, I urge you to establish a panel to research and explore the benefits of fintech, particularly cryptocurrency, for our economy”, he added.

Speaking about some of the potentials of fintech, he said: “Expanding access to financial services for the unbanked and underbanked. Streamlining payments and transfers. Automating processes and reducing bureaucracy.

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In these challenging economic times, we must think outside the box and embrace innovative solutions. I implore President Bola Ahmed Tinubu to consider alternative investment structures and fintech as vital tools in our battle against inflation”, he added.