FEC approves National Blockchain Policy

By Ibiyemi Mathew

The Federal Executive Council (FEC) has approved “The National Blockchain Policy for Nigeria.”

The approval followed a presentation of the draft made by the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami.

According to a statement by the Minister, the Federal Executive Council also directed all regulatory bodies to develop relevant developmental regulatory instruments.

The regulatory bodies are the National Information Technology Development Agency (NITDA), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Communications Commission (NCC), and Nigeria Universities Commission (NUC), among many others.

The implementation of the National Policy is with immediate effect.