Former Chairman of Ungoggo Local Government Area in Kano State, Engr. Abdullahi Garba Ramat, has shared how a car accident in 2012 influenced his decision to invest in Bitcoin and real estate, which later improved his financial standing.
In a post on his verified X (formerly Twitter) handle, Ramat described how the accident, which happened along the BUK/Gwarzo Road, led to the loss of his car.
The vehicle, purchased for 2.7 million naira, was heavily damaged and sold for 1.2 million naira.
“With the funds reduced and no means to buy a replacement car or secure additional financing, a friend suggested Bitcoin,” Ramat explained. At the time, Bitcoin was valued at $5 per coin, and the naira exchange rate was 155.5 to the dollar. Using the car sale proceeds, he bought about 1,500 Bitcoin.
“By the end of 2012, Bitcoin’s value had risen to around $13 per BTC. When Tether (USDT) was introduced in July 2014, I was studying for a master’s degree in India, and Bitcoin’s value had surged to about $770,” Ramat noted.
He stated that reinvesting in Bitcoin and venturing into real estate were key decisions that helped secure his financial position. “In 2014, I bought a piece of land in T/Yola, Kano, for 5 million naira. Today, that land is worth over 90 million naira,” he added.
Ramat highlighted the importance of investing in assets that grow in value over time, saying, “Land and cryptocurrency have proven to be reliable stores of value.”
He encouraged others to act decisively, adding, “Take a step and act now—the time to make your move is today.”