The Nigeria National Information Technology Development Agency (NITDA) has restructured

The Nigeria National Information Technology Development Agency (NITDA) has restructured the National Blockchain Policy Steering Committee (NBP-SC) to reassess policies guiding the implementation of the National Blockchain Policy .

Kashifu Inuwa, Managing Director of NITDA, announced the news through Oladejo Olawunmi, Director of IT Infrastructure Solutions at NITDA, during a three-day joint workshop in Abuja on Tuesday, May 21. The workshop focused on the implementation of the national policy agenda on blockchain.

Inuwa said the review was part of efforts to track and expand blockchain innovations by involving additional stakeholders, driving mass adoption and successful implementation.

According to the executive, this review is part of efforts to integrate new emerging technologies and economic realities, and expand its scope to include the land registration, health and education sectors.

“Currently, we are still in the development stage of the use of blockchain in Nigeria, and for this reason, few people are aware of its benefits. They think it’s just about cryptocurrencies, but it’s broad. Blockchain can be used in any industry, such as supply chain management, to ensure the right products reach the consumer.

By providing secure and transparent payment options, businesses can reduce costs, improve cash flow and provide consumers with faster, more convenient transactions. This translates into increased economic activity and growth, even as Nigerians gradually adopt technology in their daily lives.

The committee, initially established on May 3, 2023, includes members from government agencies, foundations, the private sector, academia and the blockchain industry. However, the general manager did not reveal why the problem was fixed after a year.

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Inoa said the strategic reconfiguration of the committee will bring together a new wave of experienced professionals and leading minds in the blockchain field. He said their diverse experiences will be helpful in formulating a solid implementation plan for the national blockchain policy.

“We realized there was a need to have more members on the committee to ensure we had full buy-in from both the public and private sectors to prevent anything that happened in the past.”

Stakeholders in the blockchain and fintech ecosystem have already called on the Nigerian federal government to implement regulations that would promote the widespread integration of blockchain policy adopted in the country.

In a global survey conducted in 2023, Nigeria was found to be the most cryptocurrency-aware country in the world.

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