The speaker of the Nigerian House of Representatives, Femi Gbajabiamila has put forward a motion for the country to adopt comprehensive crypto legislation in order to catch up to the rest of the world’s tech development speed.
According to a report from the Daily Post, Gbajabiamila emphasized the importance of staying up to date with their partner countries in terms of technological development and adoption. Seeing how most countries are starting to implement the blockchain on most of their economic platforms is incentive enough for Nigeria to start considering the same steps.
According to google trends, Nigeria is in the first place for keywords such as “Bitcoin” and “Cryptocurrencies”, with Ghana and South Africa right behind it. Having a legal framework could provide at least some kind of leisure for the local population to invest in the crypto market without having to guess whether the investment firm is a fraud or not.
Image courtesy of Todays Gazette