Nigeria is looking to implement blockchain technology to enhance transparency in the government sector. Kashifu Inuwa Abdullahi, the Director General of the National Information Technology Development Agency (NITDA), is sure that this innovation will help increase the government’s accountability to the citizens. What is more, several institutions, including the Securities and Exchange Commission of Nigeria (SEC), the Nigerian Communications Commission (NCC), and the Corporate Affairs Commission (CAC), have expressed interest in harnessing the potential of blockchain. Regulators believe that blockchain can significantly enhance financial operations and expand banking services for its citizens. The government is expected to provide a dedicated platform for public institutions to interact with blockchain. This innovation will be applied to various sectors, such as finance, healthcare, corporate governance, and logistics. Moreover, due to the transparent, secure, and decentralized nature of blockchain, the technology is anticipated to streamline corporate and accountability processes. “We recognize the potential for blockchain technology to enhance transparency in government, improve service delivery and foster innovation in various sectors,” the head of the NITDA said. “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. In May 2023, the Nigerian government kick-started its national blockchain development policy, signaling a transition towards a digital economy. Additionally, in 2022, the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) requested the authorities to reconsider their stance on cryptocurrencies. SiBAN's leadership also urged banks to continue servicing cryptocurrency enterprises.