Nigeria Starts Reviewing Blockchain Technology Policy
The evaluation of the policies governing the Nigeria Blockchain Technology Policy implementation commenced on July 17, as confirmed by the Chairman of the committee Chuta announced on the X social platform that the Steering Committee has commenced reevaluating the country’s national blockchain policy implementation policies. Revision of the blockchain policy The National Blockchain Policy Steering […]
Nigeria’s Blockchain Growth Depends on Local Talent – Experts
Local experts in Nigeria believe the country’s local talents will help develop its blockchain future rather than adopting a foreign blockchain. Nigerian blockchain and data specialists have provided their perspectives on the National Information Technology Development Agency’s (NITDA) initiative to create an indigenous blockchain known as “Nigerium.” This ambitious undertaking aims to enhance national security […]
CBN Official Confirms That Binance Operated Illegally In Nigeria
Nigerian court testifies Binance‘s illegal operations, with the CBN official highlighting the lack of necessary licenses and regulatory approval. Nigerian authorities stepped up their legal defense against cryptocurrency exchange Binance in an Abuja courtroom. Central Bank representatives testified that Binance did not have a license, consistent with claims that the company enabled illicit activities on […]
Nigerian SEC Requires VASPs to Establish Local Offices
Virtual Assets Service Providers (VASPs) are now required to establish an office within Nigeria to qualify for Nigeria’s Securities and Exchange Commission (SEC) framework program. The SEC stated in a website post that the Accelerated Regulatory Incubation Programme (ARIP), intended to enroll VASPs in the country, is only available to incorporated entities with an office […]
Nigeria Utilizes Blockchain and AI to Combat Financial Crime
Nigeria’s financial crime chief, Olanipekun Olukoyede, advocates using blockchain and AI to combat Africa’s $88.6 billion annual illicit money outflows. In order to combat financial crimes, a senior Nigerian official has suggested the implementation of sophisticated technology to prevent the illicit transfer of funds from Africa. Olanipekun Olukoyede, the director of Nigeria’s primary agency dedicated […]