NCC brainstorms with stakeholders on blockchain’s benefits to economy

NCC EVC Umar Danbatta

The Nigerian Communications Commission (NCC) has interacted with stakeholders in the academia, the public sector and enthusiasts of technology for development on the benefits derivable from emerging technologies such as blockchain, to advance the growth of the Nigerian economy.

The deliberations held at a recently-organised two-day workshop in Abuja by the commission, in collaboration with the Bureau of Public Sector Reforms (BPSR).

Stakeholders agreed that through effective implementation of policies as expressed in guidelines, regulations and directions driven by the NCC, blockchain could be a bedrock of economic innovation and growth.

The workshop drew participants from financial institutions, government ministries, departments and agencies (MDAs), the academia, the Nigerian military, and paramilitary forces, the Nigerian Cyberwarfare Command, and the private sector.

The stakeholders, who spoke in turn at the workshop, acknowledged and profoundly appreciated the role of NCC in engendering a dynamic digital regulatory environment, the remarkable contribution to the growth and development of novel and emerging technologies, and NCC’s adoption of adaptive mechanisms that have enhanced emerging technologies in Nigeria.

Addressing a large audience at the event, NCC director, new media and information security, Haru Al-Hassan, who delivered the opening speech at the event, on behalf of the executive vice chairman of the commission, Prof. Umar Danbatta, said existing national digital economy frameworks such as the National Digital Economy Policy and Strategy (NDEPS), 2020-2030 instituted by the Federal Government as well as regulatory initiatives by the commission, have been significant enablers of blockchain and emerging technologies in the country.

According to Al- Hassan, “Good regulatory policies are the bedrock of innovation and growth and it is the aspiration of the Commission that Distributed Ledger Technologies (DLTs) otherwise known as Blockchain and other innovative technologies and services would continue to thrive and contribute to the growth and development of Nigeria.”

Other speakers at the event included Abdul-kareem Oloyede of the University of Ilorin, Kwara State; Amaka Ukwueze and Vivian Okonkwo, both of the University of Nigeria, Nsukka (UNN), Enugu State, and Col. Romi Legha of the Indian High Commission.