- Consumers Can Buy kerosene, Fuel With Digital Coin —CFA
A digital asset management firm, Coin For All, has entered into partnership with major oil marketers to allow Nigerian consumers to buy kerosene and fuel with virtual currency.
According to the firm, the initiative is continent-wide and aimed at addressing the energy challenges in Nigeria.
“With the digital assets they acquire, Nigerians will be able to buy petroleum products like petrol, gas and kerosene at prices below the official pump prices at partner fuel stations,” the Head, Project-Planning/Management, Survey, CFA, Faith Titus, said at a media briefing to unveil the product in Lagos.
She added that the scheme would be explained to members of the public during a free-entry seminar/conference in Lagos later in the month.
She said, “The CFA identified that energy is one of the biggest challenges in sub-Saharan Africa, and has gone into partnership with some designated fuel stations in the country where Nigerians with the CFA’s digital asset can purchase products below the official rates.
“With lower energy rates, cost of production will reduce as well as prices of goods and services. That is why we are going about to sensitise people to the need to tap into this opportunity.”
According to her, during seminar, some digital asset specialists will enlighten the audience on how they can maximise the enormous potential in the digital currency sector.
“Participants at the seminar will have the opportunity to subscribe to the CFA’s ongoing Initial Coin Offering and earn ICO’S referral commissions,” Titus added.