Nigeria’s National Information Technology Development Agency (NITDA) has restructured the National Blockchain Policy Steering Committee (NBPSC) with the aim of reassessing the policies that guide the implementation of the country’s National Blockchain Policy. The announcement was made by Kashifu Inuwa, the director-general of NITDA, during a three-day co-creation workshop in Abuja, Nigeria’s capital, on May 21. The workshop focused on the implementation of the National Blockchain Policy.
Inuwa explained that the review is part of the agency’s efforts to stay updated with blockchain innovations and to expand its reach by involving more stakeholders, promoting comprehensive adoption, and ensuring successful execution. The executive also highlighted the importance of incorporating new emerging technologies and economic realities, particularly in sectors such as land registration, health, and education.
By providing secure and transparent payment options, businesses can reduce costs, improve cash flow, and offer consumers faster and more convenient transactions. This ultimately leads to increased economic activity and growth as Nigerians embrace technology on a daily basis.
The committee was initially established on May 3, 2023, and it includes members from government agencies, institutions, the private sector, academia, and the blockchain industry. However, Inuwa did not disclose the reason for its reform.
According to Inuwa, the strategic reform of the committee will bring together a fresh wave of experienced professionals and leading minds in the blockchain space. Their diverse expertise will be crucial in developing a robust implementation plan for the National Blockchain Policy.
Stakeholders in Nigeria’s blockchain and fintech ecosystem have previously urged the federal government to implement regulations that facilitate the widespread integration of the approved blockchain policy in the country. Nigeria was found to have the highest level of cryptocurrency awareness in the world, according to a global survey conducted in 2023.
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