Cryptocurrency: Sensex Pay CEO Calls for Fair Play

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Rebecca Ejifoma

The CEO of SenexPay Limited, Mr. Okeoghene Orhosere, has emphasised the need for a level playground and for the FG to reconsider its policies on cryptocurrencies before passing them into law.

Orhosere told newsmen in Nigeria via a virtual conference from his residence in South Africa. “The FG should create a level playing field for all legitimate crypto start-ups in the country.”

He revealed that the recent ban on cryptocurrencies by the Central Bank of Nigeria has made most entrepreneurs relocate to other developed countries.

According to him, such a reaction has also led to a huge loss of taxes for the federal government.

“When I got the news about the CBN ban, I had to move my office out of Nigeria to South Africa to avoid frustration due to what many people now commonly tag the ‘Nigerian Factor’,” he lamented.

He pleaded that what “We want to do is to help develop the country, but if the government continues to fail in creating an enabling environment for businesses like ours, how can such happen?”

“The level of brain drain in the country is becoming worrisome, and the Government need to recognise the efforts made by most youths in competing with their international counterparts.”

Orhosere, therefore, called on the CBN to reconsider his current stance on cryptocurrencies, as many developed countries are far ahead in terms of related technological advancements.

As the CEO of SenexPay, he described the firm as a multi-million-dollar Bitcoin Instant Exchange Service that launched in 2016. The company had initiated plans to expand its rich services to other countries before the CBN made its announcement.