Nigeria’s National Information Technology Development Agency (NITDA) has restructured the National Blockchain Policy Steering Committee (NBPSC) in order to reassess the policies governing the implementation of the country’s National Blockchain Policy.
The announcement was made by Kashifu Inuwa, the director-general of NITDA, through Oladejo Olawunmi, the director of IT infrastructure solutions at NITDA, during a three-day co-creation workshop held in Abuja, Nigeria’s capital, on Tuesday, May 21. The workshop focused on the implementation of the National Blockchain Policy.
Inuwa explained that the review is part of their efforts to stay updated with blockchain innovations and to expand its scope by involving more stakeholders, promoting widespread adoption and successful execution.
According to Inuwa, the review is also aimed at incorporating new emerging technologies and economic realities, expanding its reach to sectors such as land registration, health, and education. By offering secure and transparent payment options, businesses can reduce costs, improve cash flow, and provide consumers with faster and more convenient transactions. This would lead to increased economic activity and growth, as more Nigerians embrace technology on a daily basis.
The committee was initially established on May 3, 2023, and consists of members from government agencies, institutions, the private sector, academia, and the blockchain industry. However, Inuwa did not disclose the reason for the committee’s reform.
Inuwa stated that the strategic reform of the committee will bring together a new group of experienced professionals and leading experts in the blockchain field. Their diverse expertise will play a crucial role in developing a strong implementation plan for the National Blockchain Policy.
Stakeholders in Nigeria’s blockchain and fintech ecosystem have previously urged the federal government to implement regulations that would facilitate the widespread integration of the approved blockchain policy in the country.
In a global survey conducted in 2023, Nigeria was found to have the highest level of cryptocurrency awareness among its population.
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