FG does not understand Flutterwave, Paystack but how to borrow money –Chidoka

  MAY 1, 2021 | EASTERN PILOT Ex-Minister of Aviation, Osita Chidoka, says the Federal Government only understands how to borrow money but d...

 

MAY 1, 2021 | EASTERN PILOT

Ex-Minister of Aviation, Osita Chidoka, says the Federal Government only understands how to borrow money but does not understand how fintech platforms such as Flutterwave and Paystack operate.

He spoke on Saturday at the 2021 edition of The Platform, an annual conference organised by Pastor Poju Oyemade of the Covenant Christian Centre, Lagos.

The programme was themed, ‘Is Devolution of Powers The Solution To Nigeria’s Problems’.

Chidoka, a member of the opposition Peoples Democratic Party, also lambasted the ruling All Progressives Congress government of the President, Major General Muhammadu Buhari (rted.), for being “too old to understand” how the digital financial sector works.

He said, “What is the average age of our cabinet? Our cabinet does not reflect Nigeria. They cannot understand Paystack, they cannot understand Flutterwave. They cannot understand Kobo360.

“They don’t know how to tax them. The tax authorities are taxing their revenues, because they think that all the money received by Kobo360 is revenue. No, it is money they are receiving as an aggregator.

“So, we need young people like you to be the Chairman of the FIRS (Federal Inland Revenue Service). That’s what we need. We need people who understand.

 

“We can’t help them. Mr. President cannot understand it. The APC government does not understand it. They are too old to understand it. What they understand is borrowing money from the Central Bank.”

The PDP chieftain, therefore, urged the youths to take over, saying, “We need to unlock Naija. It is not the responsibility of the structuralists. They are deceiving us, to make us keep looking at that day when we will change our constitution and El-Dorado will come. No, they are planning how they will take over in that new El-Dorado.”

The programme also featured speakers including Chairman of the Nigeria Governors’ Forum and Ekiti State Governor, Kayode Fayemi; Bishop of Sokoto Diocese, Matthew Kukah; ex-President of Nigerian Bar Association, Olisa Agbakoba, amongst others.

Source