FG Does Not Understand Paystack And Flutterwave, Only How To Borrow Money — Chidoka

Former Minister of Aviation, Osita Chidoka, on Saturday said the
Federal Government does not have a grasp of how technology
start-ups make money.

Mr Chidoka, who is a member of the opposition Peoples Democratic
Party, was speaking at The Platform, a televised event hosted by
the Senior Pastor of Covenant Nation, Poju Oyemade and which seeks
to spark conversations that can aid national development.

“What is the average age of our cabinet,” Mr. Chidoka said. “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. 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.”

Mr. Chidoka explained that the relatively new crop of technology
innovators are part of a new Nigeria he described as ‘Naija’.

“We need to unlock Naija,” he said. “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. “

Former Minister of Aviation, Osita Chidoka, on Saturday said the
Federal Government does not have a grasp of how technology
start-ups make money.

Mr Chidoka, who is a member of the opposition Peoples Democratic
Party, was speaking at The Platform, a televised event hosted by
the Senior Pastor of Covenant Nation, Poju Oyemade and which seeks
to spark conversations that can aid national development.

“What is the average age of our cabinet,” Mr. Chidoka said. “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. 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.”

Mr. Chidoka explained that the relatively new crop of technology
innovators are part of a new Nigeria he described as ‘Naija’.

“We need to unlock Naija,” he said. “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. “