The National Information Technology Development Agency of Nigeria (NITDA) has announced its intention to implement the sovereign blockchain Nigeria in the country.

The agency’s CEO, Kashifu Abdullahi, believes that Nigeria will allow authorities to gain complete control over government data, as well as information on financial transactions and personal data of the country’s citizens.

“A sovereign blockchain will allow Nigeria to adapt the technology to its own needs and ensure compliance with laws. The implementation of Nigerian will avoid the risks of using foreign technologies, where developers make radical changes to their blockchains without consulting Nigerian users and the government,” the official explained.

The NITDA director added that his agency is considering the possibility of harmonizing Nigerian technology with foreign analogues in order to improve operational compatibility.

Earlier, the head of the payments policy and regulation department of the Central Bank of Nigeria (CBN), Olubukola Akinwunmi, testified before the Federal High Court of Nigeria in Abuja and stated that the largest crypto exchange Binance provided banking services without the regulator’s permission.