Amid the prohibition of cryptocurrency transactions by the Central Bank of Nigeria, Nigerians are still positive about this blockchain technology called Cryptocurrency.
George Residence, a luxury hotel based in Lagos, Nigeria has taken the first bold step to accept cryptocurrency as a form of payment for their service. The hotel made the announcement of accepting bitcoin as a form of payment this past weekend.
The Chief Executive Officer of George Residence Yanju George said that bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind. In an interview with the media, he disclosed
“We have allocated around 50% of our cash reserves to Bitcoin and we hope to increase that as time goes on. Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer, and we are excited to be able to offer this them.”
This development makes George Residence the first hotel to accept Bitcoin in Nigeria and a selected few companies in Nigeria to accept digital currencies as payment.
Furthermore, George Residence has partnered with Coinvest Africa, a leading cryptocurrency firm, to process the cryptocurrency payments.