Nigeria is taking significant steps to regulate its rapidly growing cryptocurrency market through the establishment of a new Virtual Asset Council. This proposed regulatory framework seeks to increase transparency, strengthen investor confidence, and foster an environment where innovation can thrive alongside consumer protection.

The initiative is expected to accelerate the growth of digital assets across Africa, particularly by enhancing the efficiency of cross-border payments, an area where blockchain technology has shown notable promise. Faster and more affordable international transactions could open new avenues for trade and financial inclusion for both businesses and individuals.

Pelumi Esho, CEO and Founder of 91 Payments, emphasized the need for balanced regulation that encourages innovation while building trust within the virtual assets ecosystem. Industry stakeholders believe that clear regulatory guidelines could position Nigeria as a leading digital finance hub on the continent.

Africa’s global diaspora plays a critical economic role, sending nearly $100 billion home annually—an amount surpassing foreign direct investment in many African countries. At the EMY Africa London Summit, business leaders, investors, and policymakers discussed transforming these remittances from household support into catalysts for long-term economic development. Key to this transformation will be creating accessible investment vehicles, improving financial infrastructure, and fostering trust between investors and entrepreneurs.

Additionally, in Bukavu, the enterprise Joella is showcasing how sustainable farming practices can simultaneously address economic and environmental challenges.

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