A key figure in Nigeria’s blockchain and fintech space, Obinna Iwuno, has emphasized the need for the Nigerian government to swiftly implement regulations supporting the widespread integration of the approved National Blockchain Policy. The policy, approved by former President Muhammadu Buhari in May, aims to spur economic growth, create jobs, and enhance financial inclusion in Nigeria.
Speaking at the National Information Technology Development Agency’s Stakeholders’ Policy Dialogue in Lagos, Iwuno, the president of the Stakeholders in Blockchain Association of Nigeria (SiBAN), stressed the importance of establishing a forward-thinking regulatory framework. He believes such regulations would accelerate the adoption of blockchain technology across various sectors of the economy.
The National Blockchain Policy recognizes the vast potential of blockchain technology, acknowledging its capacity to drive economic growth, address unemployment, and resolve longstanding issues related to financial inclusion. Iwuno sees the full adoption of the policy as an opportunity for Nigeria to become a trailblazer in the continent’s digital economy landscape.
Iwuno underlined that the journey toward mainstream integration of blockchain technology in Nigeria is a collaborative effort, not solely a government initiative. He emphasized the collective determination of stakeholders to position Nigeria as a global leader in the blockchain space. The collaboration between industry stakeholders and the government aims to transform Nigeria into a prominent global blockchain hub.
As technological advancements shape leading nations, the call to position Nigeria as a strong contender on the global stage resonates strongly. The focus is on aligning the country with global trends and leveraging blockchain technology for comprehensive economic and social development.
