Key Takeaways
- A Nigerian government commission, Corporate Affairs Commission (CAC), refuses to approve a registration request by a company.
- The agency stated that the refusal is because Blockchain is not acceptable in the Country.
- Nigeria Blockchain society shows displeasure with the agency's decision and implores the Country's authority to investigate the matter.
- Adedeji Owonibi explained that CAC Is one of the organisations that ought to execute the blockchain strategy in the country.
According to a news report, the unnamed new company that is developing an API connection for Blockchain gaming rewards was told that their registration request would be considered once the connection to the blockchain was established.
The Commission allegedly requested that the start-up remove the reference to blockchain technology. Members of the country's blockchain community have been outraged by this decision.
Adedeji Owonibi, the CEO and COO of Convexity, a blockchain generation center, is among those who are outraged by this decision.
While expressing his displeasure with the CAC decision, Owonibi explained that the Commission is one of the 27 institutions that should be in charge of implementing the country's blockchain strategy.
He also expressed surprise at the level of ignorance among government officials, explaining that such a thing would be expected less of an agency in charge of registering companies in the West African country.
In addition to Owonibi's statements, the news also cited Charles Okaformbah, another Co-founder of Convexity, who expressed his disappointment in the Commission's decision on the matter.
Charles urged the country's Vice President, Professor Yemi Osibajo, who is one of the few people in government who supports financial technology, to look into the matter as soon as possible.
Following the CAC's decision, the Crypto Asset Buyer news concludes that Nigeria's goal of generating $10 billion from blockchain appears implausible.
What impact do you believe the Commission's refusal to consider the Start-up registration request will have on the Nigerian Blockchain community?
