In its latest signed press release, Innosson Vehicle Manufacturing has denied accepting cryptocurrency.
Find below the press release.
Caveat emptor!

Innosson Vehicles Manufacturing Co. Ltd, in a recent statement, has denied claims that a Nigerian cryptocurrency “Zugacoin” can now be used to purchase vehicles and products under the INNOSON Group.

In line with the news reports published by the media on Saturday, it became public knowledge that the indigenous automobile maker adopted Zugacoin (a cryptocurrency founded in 2020 by Nigerian Archbishop Sam Zuga) as fiat currency that could be used for the purchase of products under the INNOSON Group anywhere in the world.

According to the report, this became official following a business partnership deal between Archbishop SamZuga of Zugacoin and Chief Dr Innocent Chukwuma of Innoson vehicle manufacturing company on Saturday, March 13, 2021.


In reaction to this, Innosson today, issued a stern warning to the general public that such reports are untrue, as the company has not signed any agreement with any organization or entity in that regard.

The Group advised that information suggesting that it adopted Zugacoin should be disregarded and ignored, as it is false and misleading.

Innosson stressed that it is compliant with CBN’s restrictions on the use of cryptocurrencies in Nigeria, adding that Innosson would not take any action that would contravene existing laws and regulations in the country.

In case you missed it: The Central Bank of Nigeria (CBN) had placed some level of restrictions on the use of cryptocurrency in Nigeria, with a directive to all deposit money banks to close all crypto-related accounts.

What you should know
Innosson Vehicle Manufacturing Co. Ltd., shortened as IVM, is an indigenous privately owned Nigerian group of companies with a key focus on driving the Nigerian economy forward through industrialization, under the leadership of the Group founder, Dr. Innocent Chukwuma.

https://nairametrics.com/2021/03/15/innosson-denies-claims-suggesting-nigerian-cryptocurrency-can-be-used-to-buy-its-vehicles

Zugacoin or Rugacoin, IVM is not accepting. Be careful before loading it to pump & dump. At first I suspected Innosson for flying the kite with Rugacoin/Zugacoin because if it's not so, Innosson should be investigating why it was their brand used to fly the kite.Besides, it took Innosson days to deny it.I suspect it was a publicity stunt by Innosson that went sour.For latest freestuffs,pls,visit www.freesruffsng.com

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I know Innoson won't consent to such an agreement . Zuga is just a greedy man looking for how to extort Nigerians

Vaughanlanrewaj:
Zugacoin or Rugacoin, IVM is not accepting. Be careful before loading it to pump and dump. At first I suspected that the kite was flown by Innosson and/or Rugacoin/Zugacoin because if it is not so, Innosson should be investigating why it was their brand used to fly the kite.
Besides, it took Innosson days to deny it.I suspect it was a publicity stunt by Innosson that went sour.

Don't mind them, who are they trying to deceive with their damage control

If truly they aren't aware of the development or partnership why can't they demand an apology from bishop Sam zuga or vanguard newspapers that published the story

Very soon now Benue state will come out and deny that they have nothing to do with zuga coin

. Nigeria the new Hub of Fake News

ok oooh

In an effort to discredit the fed govt directive on bitcoin, ipob miscreants have been running from pillars to post busy concocting fake news.

IVM accepting bitcoin is one of them.

Igbos are illiterates.

Better... I created a thread calling for his arrest earlier today. www.nairaland.com/attachments/13249315_linksolid_png67cb6d025d0bdb60c4a817d79e1aa456 Good to know it's all BS... Can't imagine a legit company like Innoson partnering with that scam...

.. That said, I advise everyone to stay clear of ZUGACOIN. It's a scam... Here's why www.nairaland.com/attachments/13249315_linksolid_png67cb6d025d0bdb60c4a817d79e1aa456

Nigeria go better.

Story fr another day

Omihanifa:



Don't mind them, who are they trying to deceive with their damage control

If truly they aren't aware of the development or partnership why can't they demand an apology from bishop Sam zuga or vanguard newspapers that published the story

Very soon now Benue state will come out and deny that they have nothing to do with zuga coin

What do you want from IVM,huh?
You want IVM to start making unnecessary case with Bishop Zuga so that you'd be appeased?
Abeg free IVM.

Most cryptocurrencies grow by speculations this is probably one of them.

Chim oo.
After i don buy 3 litres of the coin....
Which kyn wahala be this...

Confused lots

I remember some people on the zuga thread boasting of quickly buying the new digital currency.

Just because famous people's pictures are attached to a thread doesn't make it genuine

Too many fake news on nairaland front page recently...Oga Seun what is happening??

G

Naso

these people wan cash out... . Innoson don't want any 'Yoruba Yoruba' . These people are very unserious and the damage this would do to them cannot be quantitified but they deserve it. If someone mentioned my name with a product i am not involved with, i will equally give a brutal rebutal. For all you laptop powerbank and similar needs, follow me and you will be glad you did.

People just want to bring this man down by all means. Innosson is innocent.

I knew it was only a matter of time before Innosson denies the story

I was wondering how innoson could be so foolish to accept such a deal...its good to know that it's not true

The fear of Buhari

I knew it wasn't possible...if Innoson wants to accept any crypto it won't even be Zuga coin

If I was Innoson I would’ve denied ever meeting Zuga sef and claimed I was photoshopped