Nigeria’s blockchain ambition loses ground to crypto

Homepage > News > Business > Nigeria’s blockchain ambition loses ground to crypto Nigeria may miss out on significant economic gains as the government prioritizes the budding digital asset sector over the implementation of the National Blockchain Policy, prompting industry leaders to question its real progress. The National Blockchain Policy was launched in 2023 under former President Muhammadu Buhari, but its execution has since stalled, with policymakers focusing more on providing investors a clear regulatory framework for digital assets and cryptocurrencies. Crypto Bootcamp Community founder Obinna Iwuno lauded the new administration of President Bola Ahmed Tinubu for regulating the digital asset sector by recently signing the Virtual Assets Executive Order and implementing the Investments and Securities Act (ISA) 2005, which would eradicate institutional silos and provide robust consumer protection. However, he expressed dismay at the lack of progress in enacting the National Blockchain Policy at a time when blockchain technology is being viewed globally as a critical infrastructure for digital transformation, Business Day reported. “There has been no implementation. W...