The Hearing That Shifted the Debate
In Abuja, the House Ad-Hoc Committee on Cryptocurrency and PoS Operations told the EFCC and NFIU to stop treating every young crypto trader as a cybercriminal.
Chairman Olufemi Bamisile declared: “Our goal is to understand and regulate—not to clamp down on creativity.”
Representatives from major exchanges including Quidax, Luno, Busha, and KoinKoin were present.
⚖️ From Witch-Hunt to Framework
Committee members condemned what they called “misplaced aggression” by anti-graft agencies.
The lawmakers said innovation should be guided by intelligence, not intimidation. “Not every young Nigerian with a laptop is a Yahoo boy,” one member said, earning applause from attendees.
⚙️ Ripple & Impact
- Policy Reform: Crypto to be integrated into Nigeria’s ₦1trn digital economy vision.
- Security Agencies: EFCC and NFIU to undergo blockchain training.
- Gender Inclusion: Calls for a national digital literacy programme for women-led fintechs.
🧭 Toward a National Crypto Law
The SEC confirmed that the new Accelerated Regulatory Incubation Programme (ARIP) will streamline licensing for Virtual Asset Service Providers (VASPs).
Experts urged a phased taxation plan to prevent underground trading and loss of government revenue.
This is IDNN. Independent. Digital. Uncompromising.