GOVERNMENT AND STAKEHOLDERS COLLABORATE FOR BLOCKCHAIN ADOPTION IN NIGERIA

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The Federal Government, in collaboration with key stakeholders, is poised to harness the potential of blockchain technology to stimulate economic growth, foster transparency, and generate employment opportunities. Mallam Inuwa Kashifu Abdullahi, the Director General of the National Information Technology Development Agency (NITDA), made this announcement at the Nigeria Air Force (NAF) Conference Centre in Abuja.

Representatives from regulatory bodies and financial institutions, including the Securities and Exchange Commission (SEC), the Nigerian Communications Commission (NCC), and the Corporate Affairs Commission (CAC), advocated for the seamless integration of blockchain technology to drive financial transactions and inclusivity in the country.

Abdullahi affirmed that the government is committed to providing a robust platform for institutions to adopt blockchain technology. He highlighted its inherent features of transparency, security, and decentralization; emphasizing its potential to streamline governance and instill accountability.

President Bola Tinubu’s administration intends to leverage the disruptive force of blockchain technology, which has the capacity to revolutionize various industries, ranging from finance and healthcare to supply chain management and governance.

Abdullahi, during his keynote address at the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) digital assets summit 2023, acknowledged the transformative power of blockchain in enhancing government transparency, improving service delivery, and driving innovation across sectors. He stressed the importance of establishing a regulatory framework to ensure responsible and secure utilization of digital assets within the financial system.

Obinna Iwuno, President of SiBAN, highlighted the summit’s objective to deepen awareness about blockchain technology and digital assets in Nigeria. He underlined the significance of youth involvement in embracing the technology for wealth creation and employment opportunities.

The appointment of Dr. Bosun Tijani as the Minister of Communications, Innovation, and Digital Economy was commended by SiBAN President Obinna Iwuno; who expressed optimism that Tijani’s industry knowledge will positively impact the sector. He emphasized that seamless adoption of blockchain technology and collaboration among policymakers and industry players are vital to addressing critical challenges in the country’s economic growth and development.

 

 

 

 

 

 

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