Innosson Vehicles Manufacturing Co. Ltd has urged Nigerians to disregard reports suggesting that its vehicles and products under the INNOSON Group can be purchased using a Nigerian cryptocurrency “Zugacoin.”
The denial became necessary following widespread reports that the group had adopted Zugacoin as a payment method 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.
Reacting to the report, Innosson issued a statement stressing 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.
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.
