Nigeria reconsiders crypto ban, stakeholders hold talks

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2022-04-30 07:43:22

After Nigeria enacted a cryptocurrency ban for months, the Nigerian Communications Commission (NCC), as well as academics, government officials, and tech enthusiasts, discussed the advantages of public companies. emerging technologies like Blockchain in boosting the economy.

Nigeria holds talks on blockchain technology
Stakeholders agreed that effective implementation of policies as articulated in the guidelines, rules and directions promoted by the NCC can be the cornerstone of innovation and growth at the lengthy workshop. two days organized by the Commission in collaboration with the Bureau of Public Service Reform (BPSR).

Participants from financial institutions, Ministries, Departments and Agencies (MDAs), academia, Nigerian military and paramilitary forces, Nigeria Cyber ​​Command and the private sector participated in the conference. The seminar took place in Abuja and focused on ‘Distributed Ledger Technology (Blockchain) Ecosystem, Decentralization and Adoption Methods. ‘

Panelists acknowledged and appreciated NCC’s role in fostering a dynamic digital regulatory environment, making a significant contribution to the growth and development of new and emerging technologies. as well as NCC adoption of adaptation mechanisms has enhanced emerging technologies in Nigeria.

BTC/USD trades at $39k. Source: TradingView
Dr. Haru Al-Hassan, NCC Director of New Media and Information Security, who opened the event, said that existing national digital economic frameworks, such as the Strategy and the Federal Government’s National Digital Economy Policy (NDEPS), 2020- 2030, as well as the Commission’s regulatory initiatives, have been significant drivers for Blockchain and other technologies emerging in the country.

According to Al-Hassan,

“Good governance policies are the foundation of innovation and growth, and it is the aspiration of the Commission that Distributed Ledger Technology (DLT) or Blockchain as well as innovative technologies and services others will continue to thrive and contribute to Nigeria’s growth and development. ”

In a similar view, Dr. Dasuki Arabi, Director General of BPSR, told the audience that the Nigerian government has been working to harmonize emerging technologies with the modern public service sector through a number of initiatives aimed at improving the efficiency of the public sector. He also stated that Blockchain will be a key component in the implementation of the National E-Government Master Plan.

The advent of Single Treasury Account (TSA), Integrated Payroll and Personnel Information System (IPPIS), Bank Verification Number (BVN), automating enforcement activities of several agencies government agency in Nigeria. This includes the Federal Road Safety Corps (FRSC) and automated performance measurement systems for public sector employees which are all examples of the use of technology in the public sector, according to the Director. operating the BPSR.

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