Blockchain
Nigeria’s government on Wednesday approved a national blockchain policy as part of the country’s effort to transition to a digital economy.
The federal Ministry of Communications and Digital Economy developed the policy, according to a statement tweeted by the ministry.
“The policy vision is to create a Blockchain-powered economy that supports secure transactions, data sharing and value exchange between people, businesses and government, fostering innovation, trust, growth and prosperity for all the statement said. .
The policy document does not seem to have been made public yet.
The tweet made no mention of cryptocurrencies, which the government cracked down on in 2021 after the country emerged as one of the fastest adopters of digital assets in the world.
The cabinet, known as the Federal Executive Council, instructed regulators such as the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) “to develop regulatory tools for the deployment” of blockchain technology in various sectors of the economy. Earlier in the week, Bloomberg reported that the SEC was considering allowing tokenized coin offerings backed by equity, debt or ownership — but “not crypto” — on licensed digital asset exchanges.
“A multi-sector steering committee has also been approved to oversee the implementation of the policy,” the statement said.
CoinDesk has reached out to the Federal Ministry of Communications and Digital Economy for comment.
Read more: Nigeria’s SEC considers allowing tokenized equity, property but not crypto: Bloomberg