Stakeholder Urges Swift Implementation of Nigeria's Blockchain Policy

Call for Regulations to Foster Integration of Blockchain Technology

A stakeholder in Nigeria's blockchain and fintech ecosystem is urging the federal government to implement regulations that will promote the widespread integration of the approved blockchain policy in the country. Nigeria's National Blockchain Policy aims to bring about economic growth, job creation, and increased financial inclusion.

Forward-Thinking Regulatory Framework Needed

Obinna Iwuno, the president of the Stakeholders in Blockchain Association of Nigeria (SiBAN), recently emphasized the need for a forward-thinking regulatory framework to accelerate the adoption of blockchain technology in various sectors of the economy. Iwuno made these remarks during an interview at the National Information Technology Development Agency and Stakeholders in Blockchain Technology Association of Nigeria Stakeholders' Policy Dialogue held in Lagos.

Nigeria's Potential as a Trailblazer in the Digital Economy Landscape

Former President Muhammadu Buhari approved the National Blockchain Policy in May, positioning Nigeria as a trailblazer in the continent's digital economy landscape. Iwuno believes that Nigeria is fully equipped to implement blockchain technology and that the collaborative efforts of industry stakeholders, regulators, and operators will play a crucial role in positioning Nigeria as a leader on the global stage.

Blockchain's Far-Reaching Potential

According to the National Blockchain Policy, blockchain technology has the potential to drive economic growth, create jobs, and address the issue of financial inclusion. With technological advancements shaping leading countries today, the push to position Nigeria as a formidable contender on the global stage is gaining momentum.

Transforming Nigeria into a Global Blockchain Hub

Iwuno also highlighted the collaborative drive between industry stakeholders and the government to transform Nigeria into a global blockchain hub. This joint effort aims to leverage blockchain technology to boost economic development and establish Nigeria as a prominent player in the digital economy.