Oye Shobowale-Benson

We’re going live on 11th Dec,2025 With @Vindicatedchidi @OyeSB To discuss Institutions Coming into web3 and retail stepping out Hosted by @lyfebloodDAO @Rumerule Venue: X space Time : 8pm Click to tune in👇 twitter.com/i/spaces/1YpJk…

“Energy obeys physics. Money obeys incentives. Sovereignty obeys structure. We can’t legislate electrons, but we can legislate the rails that determine who controls the future.” @elonmusk #Energy #Bitcoin #Sovereignty #SystemsThinking

@NigeriaWomenBTC Insightful

@FinPlanKaluAja1 disintermediation risk???

@FinPlanKaluAja1 I hope my question will be answered today; i hope kalu is not incentivized

@Adexdeji @fatuogwuche @cngn_co I raise these not to dismiss the effort but to highlight where credibility gaps remain. Transparency and alignment with the monetary authority are what will make this sustainable long-term.

Great question sir Oye and i am particularly glad you asked, because this is exactly where the team have been putting in the hard work with @cngn_co . kindly note this is not cNGN response or page, hence i am answering personally as one of the project stakeholders as you asked me on my private handle here. 📍On credibility, cNGN is always issued 1:1 against the Naira, meaning there is no volatility question at the core as it is a mirrow of a Naira, it is unlike trading pairs tokens in secondary markets, the redemption guarantee is clear and direct always come with 1 cNGN and get 1 Naira back, not sure where you see the volatility, except when traded and we dont control what you paid it with as even USD when Paired with say Gold will be volatile. 📍On our attestations: We publish attestations monthly without fail, have maintained a highly audited reserve structure/Attestation aligned with global best standards. Even while operating under a regulatory sandbox, we subject ourselves to the same rigor stablecoin leaders do globally and all these have been on our website but we reckon maybe how it was placed was not easily seen by all and we are redesigning to make it easily seen my all visitors and thank you for raising this. the lateness for July is because we are migrating to a newer, more robust attestation framework aligned with ISAE 3000 that will enhance our reporting even further. 📍On systemic risk, Far from being a risk, cNGN is being built as a tool to strengthen monetary policy transmission, not undermine it. Our model emphasizes compliance, AML/CFT controls, and reserve integrity, ensuring alignment with regulatory guardrails. In sum, cNGN is designed for credibility and resilience 2021 coming, we see it as a foundation for how African stablecoins should be built i.e compliant, built on trust others might think otherwise and can proceed and build there and come to the market too. while we welcome constructive critism to enable us improve as pioneers within the regulated Local African Currencies Stablecoin, kindly give us a chance to keep innovating as we believe we are not 100% in any respect yet and there are more rooms for improvement from us. Thank you again as we see you as a partner for pointing this concerns out sir 🙏

it was indeed great chatting with @fatuogwuche

@Adexdeji @fatuogwuche @cngn_co Operating in a sandbox is not the same as full regulatory licensing. Comparing with “global leaders” feels premature without that oversight. Finally, without CBN at the center of issuance and reserves, disintermediation remains a systemic risk to policy transmission.

@Adexdeji @fatuogwuche @cngn_co Redemption only works if reserves are transparent and instantly accessible. Otherwise, it’s a promise, not a guarantee. On attestations, the website only shows reports up to June. If monthly audits are claimed, where are July/August’s? Visibility is critical for trust.

@Adexdeji @fatuogwuche @cngn_co Thanks for your detailed reply, Deji. Respectfully, a few clarifications are still needed: Pegging 1:1 to the naira doesn’t eliminate volatility — it mirrors it. Stability comes from reserves & governance, not just parity.

@fatuogwuche Funny thing about audacious mosquitoes — sometimes the real ‘buzz’ comes from voices you try to swat away. They only get louder when ignored.

I hate audacious mosquitoes.

@fatuogwuche @samuel_biyi @Adexdeji @getBusha How “fascinating” indeed—would’ve been better if dissenting voices got the mic. I asked to speak but never got the floor. Next time, include independent perspectives on sovereignty and stablecoin risks. Open forums beat curated echoes.

I enjoyed speaking to @samuel_biyi and @Adexdeji a little too much. This was a fascinating conversation about how quickly Africa's crypto industry is evolving + the one-year anniversary of @getBusha's SEC license! Catch up here if you missed it:

@fatuogwuche Naira-pegged stablecoins directly affect monetary policy, isn’t SEC licensing of such products problematic, especially when their attestation reports show gaps? Shouldn’t oversight of issuance and backing fall strictly under the CBN to avoid regulatory error and systemic risk?

@fatuogwuche @samuel_biyi @Adexdeji @getBusha the*

@fatuogwuche @samuel_biyi @Adexdeji @getBusha Str8 bs... They ducked they hard questions thanks to you. It was clearly a paid gig.

@fatuogwuche Intellectually sound*

@fatuogwuche U guys speak as if you are intelectual and avoid questions... fatu you dissapointed me!!!!

@fatuogwuche i am an active critic; please i need my question answered.

@fatuogwuche please when was your last attestation report cNGN??

Oya Now...... 84bxKnZkJ7WCQpBJrPLvT7ofLz6F2fg56sZaBUJybonk Looks good