RATE Group | Prominent Nigerian Politician Calls for Legal Framework for Cryptocurrencies
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Prominent Nigerian Politician Calls for Legal Framework for Cryptocurrencies

24 Jul Prominent Nigerian Politician Calls for Legal Framework for Cryptocurrencies

Posted at 01:02h in Cryptocurrency News by

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Femi Gbajabiamila, the speaker of the Nigerian House of Representatives, has called for a substantive legal framework for cryptocurrencies in the country.

According to a report by Nigerian news daily Daily Post on July 23, Gbajabiamila wants the country to develop clear regulations for digital assets so that the country does not get left behind as cryptocurrencies become more widely adopted. 

Speaking at a visit by the board of the Nigerian Deposit Insurance Corporation (NDIC), Gbajabiamila said:

“On the issue of cryptocurrency, I think blockchain technology is novel and coming up strong. We don’t want to be left behind. […] I think the world is taking the issue of cryptocurrency and block-chain technology seriously. We don’t want to be left behind, and we have to take it seriously.”

Gbajabiamila noted the House’s readiness to develop relevant legal frameworks for the emerging technology and asset class. 

In addition to blockchain and cryptocurrencies, the lawmaker also…

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