The Federal Executive Council (FEC) Wednesday approved implementation of the National Blockchain Policy for the country.
Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami said this while briefing State House correspondents at the end of the weekly FEC meeting chaired by President Muhammadu Buhari.
He said the policy was developed in consultations with stakeholders made up of over 50 institutions and personalities.
“This policy was developed through consultation with stakeholders where 56 institutions and personalities were involved in the process of conceptualizing, developing and reviewing the policy.
“With the approval of the National Blockchain Policy for Nigeria today, we can safely say that blockchain technology with all its components and types have been institutionalized in the country,” he said.
The minister said following the approval of the policy, the council directed regulatory agencies to liaise with the National Information Technology Development Agency (NITDA) to ensure that regulatory instruments are introduced in all sections of the nation’s economy and security.