BRI

EFCLARI
FICATI
ONONMI
SCONCEPTI
ONOFI
NKSNATI
ON

Niger
iaasanat ionhasdif
fer
entcul t
uralgroups,rel
igion,andi ndi
vi
dualswhobel i
evei n
di
ffer
entideologi
esandexistdi
fferent
lywithi
napar t
icularnati
oncal l
edNiger
ia.Simil
arl
y,
Niger
iansint
eractwit
hint
hemsel
v esandwi t
hotherindi
v i
duals(non-Ni
geri
ans)whoalsoexist
asaNat i
on,withi
nthei
rowncontext.

Therecent
lylaunchedcommuni tycal
l
edI nksnati
on, hasbeenmisunderst
oodbymany .It
hasbeenaccompani edbytoomanymi sconcepti
onsandsomuchmi si
nfor
mat i
on.I
nksnati
on
i
saNat i
onjustli
keNi ger
ia,
ithasi
tsmember swhocomef r
om di
ff
erentcul
tural
,rel
i
giousand
i
deologi
calbackgrounds.

I
tisacommuni t
ythatexist
sl i
keeveryothercommuni t
y.Iti
nvol
vestheusualexi
stenceand
i
nter
acti
onprev
alenti
nsimi l
arexist
ingcommunities;i
talsoembracesthesimpl
eprocessof
busi
nessex
changethattakesplaceinourdail
yli
vesasseeni nev
eryothercommunity.

EachNati
onhasi tsownaccept edmedium ofexchangeother
wiseknownascurr
ency.For
exampl
e,ChineseusesYen,NigerusesSef
a,SaudiArabi
ausesRiyadh,
USAusesDol
lar
sand
ofcour
seNigeriausesNai
ra.

Inksnational sohasitsmedium ofexchange( Cur

rency )knownasPi nkoi
n.Bei
ngamemberof
Inksnationi sachoi cemadebyr especti
vei ndiv
iduals,andt obecomeamembery oumust
show i nterestbyr egi
ster
ing.These indivi
duals ar e atl i
bert
yto conductt hei
rf i
nancial
transactionswi thinthemselvesusingt hei
rcur rencyPi nkoin.Unli
keotherpapercur rency,
Pinkoini saDi gitalmeansofpay ment( Cryptocurrency).I
ti snotsomethi
ngy ouseeorcan
touchphy sical
lyjustli
ketheNairaorDol l
ar.At ypicalex ampleisthepaymentdoneusi ng
mobi l
eori nt er
netbanking.

Inthepr ocessofexchangeofgoodsandser vi
ces(i
.ebuyi
ngandsel l
ing)youcanonlyuset he
currencyoft heNationwher ethattransactionisbeingcarr
iedout.Inasi t
uati
onwher ey ou
mustt ransactwithadi ff
erentcurrency,youmustpayi t
sequivalentoft hehostNat i
on's
currency.Forexampl e,aNigeri
ant r
av el
stoUSA,andwentt oashopt omakeapur chase,IF
he/Shehast opayinNai r
a,he/Shemustpayf orthegoodswi t
hit
sequi val
enti
nDoll
ar s.Note
thatthisalsosubj
ectt othesell
errecognizi
ngandaccept i
ngtheNaira.

Si
milar
ly,donotexpectInksnati
ontogivey ouNair
a,Doll
arsoranyot
hercurrencydur
ing
tr
ansacti
on.I
fInksnati
onispayi
ngyouforaservi
cerender
edorgoodspur
chased,theni
twill
beinPinkoi
n,whichisi
t'
saccept
ablecur
rencydevel
opedbyhercommuni
tyfori
tsmember s.

Author:
DPO
I
nksnationCoordinat
or,
GusauLocal Government,
Zamf ar
aState.
08030482494
dpocoll
ecti
ons@gmai l
.com