Nigeria: National Blockchain Policy for Nigeria was adoped

On 3 May 2023, the National Blockchain Policy for Nigeria was adopted, outlining a framework for the adoption and integration of Blockchain Technology across various sectors. The policy recognises the significant role of cryptocurrencies, highlighting Nigeria's 32% per capita cryptocurrency adoption rate, the highest globally according to the Chainalysis 2022 Global Crypto Adoption Index. It aims to establish a regulatory framework that enables the safer, responsible, and optimal use of cryptocurrencies, ensuring consumer protection, market stability, and financial inclusion, while mitigating risks such as money laundering and fraud.