NITDA: Blockchain Technology ‘ll Boost Accountability, Transparency in Governance

Oghenevwede Ohwovoriole in Abuja

The Director General, National Information Technology Development Agency (NITDA) Kachifu Abdullahi, has stated that the adoption of Blockchain technology in governance will help the government to be more accountable and transparent to the citizenry.

Abdullahi was speaking at a two-day summit on Blockchain technology in Abuja, organised by the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), to create awareness and seek government regulation of the adoption and use of the technology in Nigeria.

He said: “Blckchain technology, with its inherent principles of transparency, security, and decentralisation, has emerged as a disruptive force that has the potential to revolutionise industries ranging from finance and healthcare to supply chain management and governance.

“It is not merely a technology but a catalyst for trust, accountability.

He pledged the agency’s support for the technology and the association, adding that NITDA) was fully committed to supporting and nurturing the growth of the Blockchain and digital assets ecosystem in Nigeria.

“We recognise the potential for blockchain technology to enhance transparency in government, improve service delivery, and foster innovation in various sectors. Moreover, we acknowledge the importance of providing a regulatory framework that ensures the responsible and safe use of digital assets within our financial system,” he added.

Commenting, the President of SiBAN, Obinna Iwuno said:  “The purpose for this summit is to expand and open up our country and of course of economy to the potential and the benefits of digital assets as it is happening globally.

“So it holds massive opportunities and potential for us as a country and as an economy and would help to position us in the technology sector.

 “We need policies and regulations to grow the industry. We cannot get these things as private individuals, we have to go through the right channels and structures of the society. That is why we need the policy makers and regulators on board.”

He was happy that government is actively involved in the project, stressing : “We had the DG of NITDA deliver the keynote address. We had members of NITDA on the panel, we had the security and exchange commissions today, we have memebers from other government agencies.

“ So, the response has been fine and of course you know that Nigeria currently, has a national Blockchain policy and we are the first country in Africa to have a Blockchain policy and the ninth country in the world to have such. So it is going on well.

“What we are doing at the blockchain industry and at SIBAN is  simplifying the language of communication of Blockchain education and awareness so that we can bring it down to the mainstream.”

According to him, some of the challenges to Blockchain technology adoption include lack of wareness, education, low internet penetration, and the fact that most people do not even have assess to a functional smart phone.

Chairman of SiBAN, Chukwuemeka, at the sidelines said the summit was meant to create awareness of the blockchain technology in Nigeria and to seek government investment in the development and acquisition of technological skills.