Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States
  • Nigeria Must Claim Its Seat In Global AI Economy, Experts Warn At GITEX 2025
  • NITDA DG Calls For Pan-African AI Collaboration At GITEX Nigeria 2025
  • Zinox, KongaCares Partner To Unveil Groundbreaking “Computerize Nigeria” initiative At GITEX Nigeria
  • How Two Nigerian Students Won Airtel Africa Foundation Fellowship
  • Konga Unveils “All In All, Everything ×2 – Category Month” Shopping Campaign
  • Nigeria’s Fintech Growth Hinges On Regulator–Operator Partnership, Stakeholders Say
  • NCC Moves To Strengthen Cybersecurity Framework As Telecoms Face Growing Threats
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » NCC, Stakeholders Highlight Benefits Of Blockchain To National Economy
TechExtra

NCC, Stakeholders Highlight Benefits Of Blockchain To National Economy

DigitalTimesNGBy DigitalTimesNG24 April 2022No Comments5 Mins Read1 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
BLOCKCHAIN NCC
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

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

At a recently-organised two-day workshop by the Commission, in collaboration with the Bureau of Public Sector Reforms (BPSR), stakeholders were in accord 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, which took place in Abuja and focused on ‘’Distributed Ledger Technology (Blockchain) Ecosystem, Decentralisation and Adoption Methods’’, drew participants from financial institutions, 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 the 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.

NCC’s Director, New Media and Information Security, Dr. 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.

READ ALSO  Tech Experience Centre Represents Our Vision For A Digital Nigeria- Pantami

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.

The Director-General, BPSR, Dr. Dasuki Arabi, informed the audience that the Nigerian government was already making efforts, through a number of initiatives, to harmonise emerging technologies with the contemporary public service sector in a way that strengthens the efficiency of the public sector.

He also affirmed that Blockchain would be central in the implementation of the National e-Govt Masterplan.

The BPSR Chief Executive equally listed the introduction of the Treasury Single Account (TSA), the Integrated Payroll and Personnel Information System (IPPIS), the Bank Verification Number (BVN), automation of enforcement activities of some agencies of the government, including the Federal Road Safety Corps (FRSC), as well as automated performance measurement systems for public sector employees, as concrete examples of the utilisation of technology in the public sector.

Arabi asserted that Nigeria ranks third in Africa, in the use of telecommunications for public service delivery, coming behind South Africa and Egypt, and called on policymakers to ensure robust policy formulation that ensures improved digital literacy and increased automation in public service delivery.

Other speakers at the event included Dr. 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.

READ ALSO  NITDA Commences National Public Key Infrastructure Operations

Oloyede, who clarified the difference between Blockchain and Bitcoin, stated that the former is the underlying technology used for Bitcoin and other cryptocurrencies, adding that Blockchain could be utilised to minimise expenditure and expenses, speed up transactions, and improve data security for financial institutions, health care, and businesses.

Ukwueze particularly applauded the Commission for taking the lead in discussions on DLTs considering the fact that Nigeria does not have a clear-cut Blockchain policy yet, even though countries worldwide had begun integrating DLT as a central part of their business practices.

“The Republic of Malta, a southern European island country, located in the south-central region of the Mediterranean Sea, incorporated Blockchain into its digital and economic ecosystem. Also, China, Abu Dhabi, and Japan are instituting DLT-friendly regulations in their governance processes,” Ukwueze said.

Accordingly, Ukwueze urged the Federal Government to adopt Blockchain deployment actively, promote legal certainty for Blockchain applications, and provide a flexible and adaptive regulatory environment that fosters innovation.

Conclusively, Ukwueze stated that the “government’s regulatory enforcement processes must seek to encourage companies to be consumer-centric and ensure compliance.”

In her contribution to the discourse, Okonkwo said the adoption of Blockchain technology would be essential in documentation, archiving, cloud storage, identity management, and online education.

Additionally, Okonkwo declared that blockchain is a cost-effective method of optimising the quality of the educational administrative processes and equally a cost-effective application that could improve service delivery across the nation.

The DLT, such as Blockchain, DAG, Hashgraph, Holochain, and Tempo (Radix), is a digital system for recording transactions of assets at multiple places simultaneously.

READ ALSO  109 Years After, IBM To Split Into Two Public Companies

The key features of DLT include immutability (once written, it is extremely difficult to alter), and peer-to-peer sharing, in the sense that the ledger is shared among peers while there is no central ownership.

 

#Benefits #BPSR #National Economy #Stakeholders Blockchain Featured NCC
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleCable Equiano: Pantami, Danbatta Reaffirm Commitments To Promoting Investment In Nigeria’s Telecom Industry
Next Article Twitter’s Board Accepts Elon Musk’s Offer To Buy Twitter For $44Bn
DigitalTimesNG
  • X (Twitter)

Related Posts

Nigeria’s Fintech Growth Hinges On Regulator–Operator Partnership, Stakeholders Say

2 September 2025

Nigerian Women-Led Startups Shine At TICAD 9 As Country Champions Inclusive Tech Growth

26 August 2025

NITDA Lauds Tech Giants For Compliance With Online Safety Code Of Practice

20 August 2025

Roqqu Partners SiBAN To Advance Blockchain Adoption In Nigeria

19 August 2025

Tinubu Approves New Boards For NCC, USPF

13 August 2025

Rubrik, Sophos Partner To Deliver Microsoft 365 Cyber Resilience

11 August 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States

6 September 2025

Nigeria Must Claim Its Seat In Global AI Economy, Experts Warn At GITEX 2025

4 September 2025

NITDA DG Calls For Pan-African AI Collaboration At GITEX Nigeria 2025

3 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.