Rt. Hon. Olufemi Richard Bamisile Backs Ibom Blockchain Xperience Campaign with N10 Million Support

By Tolulope oke

Olufemi Richard Bamisile, Chairman of the House of Representatives Ad-Hoc Committee on the Economic, Regulatory and Security Implications of Cryptocurrency Adoption and PoS Operations in Nigeria, has demonstrated strong support for Nigeria’s growing blockchain ecosystem by backing the Ibom Blockchain Xperience (IBX) campaign with a ₦10 million financial contribution.

The support was announced during the IBX 2026 gathering in Uyo, Akwa Ibom State, where the lawmaker participated in discussions on the future of blockchain technology and digital assets in Nigeria and across West Africa.

Bamisile’s contribution has been widely interpreted within the technology ecosystem as a strong vote of confidence in Nigeria’s blockchain movement and the community-driven initiatives working to accelerate digital innovation on the continent.

During the event, the lawmaker delivered a keynote address in which he spoke about Nigeria’s evolving approach to blockchain and cryptocurrency governance. He noted that while regulatory conversations remain important, supporting platforms that encourage innovation and knowledge-sharing is equally vital for the country’s digital future.

After learning about the operational challenges involved in sustaining one of Africa’s largest grassroots blockchain initiatives, Bamisile announced a personal financial commitment of ₦10 million to support the continued growth and impact of the IBX campaign.

The announcement was met with appreciation from developers, innovators, founders and ecosystem leaders who attended the event, many of whom described the gesture as recognition of the work being done by young African builders shaping the future of finance, commerce and digital governance.

Over the years, the Ibom Blockchain Xperience has grown into one of Africa’s most influential blockchain platforms, bringing together developers, entrepreneurs, policymakers and global blockchain organizations to drive adoption and collaboration across the continent.

Speaking during the engagement, Bamisile emphasized that Nigeria stands at a critical moment in the global digital economy. With one of the highest rates of cryptocurrency adoption in the world and a rapidly expanding fintech ecosystem, he noted that the country is well positioned to lead Africa’s blockchain revolution if innovation is supported by clear regulatory frameworks and constructive collaboration between government and industry stakeholders.

Observers say the lawmaker’s support highlights the importance of strengthening platforms that bring together policymakers and innovators, creating opportunities for meaningful dialogue on the future of blockchain governance and digital transformation in Nigeria.

As global conversations around cryptocurrency regulation and blockchain technology continue to evolve, industry watchers believe Nigeria has the potential to emerge as one of the continent’s leading blockchain economies if investment in innovation ecosystems and community-driven initiatives continues.

For many of the innovators and builders present at IBX 2026, Bamisile’s ₦10 million support sends a clear message that Nigeria’s digital economy is not only being discussed at the policy level but is also receiving tangible backing from leaders who recognize the importance of innovation in shaping the country’s future.