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Nigeria to Establish AI, IoT, and Blockchain Research Centers, Mandates Local Crypto Offices

Jul 4, 2024, 12:35 PM

Nigeria is making significant strides in the tech sector by planning to establish nationwide AI, IoT, and blockchain research centers. These centers will be distributed across Nigeria's six geopolitical zones, aiming to revolutionize the country's tech landscape and potentially transform it into Africa's Silicon Valley. Additionally, the Nigerian Securities and Exchange Commission (SEC) has mandated that crypto firms establish local offices, report complaints and risks, and adhere to inspections. This move is part of Nigeria's broader effort to regulate and support the growing crypto industry.