Regulating Stablecoins in Developing Countries and Emerging Economies to Protect Local Currencies
Stablecoins are gaining traction as a viable alternative to traditional payment systems, with the potential to transform the global payments landscape. According to a recent McKinsey report, 2025 could be a pivotal year for stablecoins, driven by their growing adoption and favorable regulatory developments. Noticeably, the most popular stablecoins...
Cooking Co-Created Crypto Policies: Lessons from Hilda Baci’s Pot of Jollof
If Hilda Baci’s name is new to you, you have likely been out of the loop on the culinary scene. Hilda Baci is a celebrated Nigerian chef, restaurateur, actress, and entrepreneur who made headlines in May 2023 for breaking the Guinness World Record for the longest cooking marathon. She...
Technology Is No Solution to Everything Under the Sun: The Crucial Role of Domain Expertise in Business and Startups
While tuning in to Business Week on Channels TV this Sunday morning, I came across a compelling one-on-one interview with Tomiwa Aladekomo, CEO of Big Cabal Media. The discussion centered around the growth and development of Africa’s tech ecosystem. On the pivotal importance of domain expertise transcending technological...
The United States Anti-CBDC Surveillance Act: A Crypto Déjà Vu?
Introduction Upon perusing the proposed Anti-CBDC Surveillance Act of the United States (US), I was struck by an uncanny sense of déjà vu. As an advocate in the virtual asset space over the last seven years, the familiarity of this moment is both captivating and unnerving for me. Rather...
Clampdowns, Crackdowns, and Shutdowns in Crypto Town: Responsible regulation is what Nigeria needs.
The Christmas Gift: 22 December 2023 Three days to Christmas last year the Olayemi Cardoso-led Central Bank of Nigeria (CBN) lifted the over three-year ban on crypto transactions in Nigeria’s banking and financial system. Long overdue, the news was refreshing. It was a Christmas gift to many, locally...
Nigeria: Accelerating collective prosperity through technical efficiency in the digital age
Introduction Nigeria desires to accelerate collective prosperity by investing in technical efficiency. This is captured in the 31-page document released on the country’s 63rd Independence Anniversary by Dr. Bosun Tijani, the minister of communications, innovation and digital economy. Titled: ‘Accelerating our collective prosperity through technical efficiency” (the draft ‘Strategic...
Intellectual Property and Emerging Technologies: Issues and Challenges- A Presentation
The human mind and its creations The human mind is the most powerful creation ever. The ability of this ‘natural computer’ to create and innovate is limitless. It is both beautiful and boundless. Without this natural intelligence that the human mind represents, there will indeed be no artificial intelligence...
The Infallibility of the Central Bank of Nigeria and How the Crypto Industry Pays for It
Introduction If the Supreme Court of Nigeria is not infallible, how much more the Central Bank of Nigeria (CBN)? Over the last one year, CBN has been obsessed with cryptocurrencies. Obviously troubled by the increasing adoption of cryptocurrencies in Nigeria and the rate of cryptocurrency transactions completed with the...
How the Central Bank of Nigeria’s definition of ‘cryptography’ illustrates the dangers of the single story
Introduction The single story is a dangerous story because it destroys, sometimes slowly but surely. In the Central Bank of Nigeria’s (CBN) response to the reactions that followed its directive on cryptocurrency in Nigeria in February, the CBN felt it needed to provide further justifications about its position to the general...
“Without trust and confidence in the system, e-Naira will fail”
In late August 2021, the Central Bank of Nigeria announced their partnership with a Barbados-based fintech company that will help create Nigeria’s first digital currency, the e-Naira. The innovative news was greeted with loads of expectations amidst controversies. Since then, Nigerians have anticipated its launch on October 1 as...
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