The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) has initiated discussions with the Nigerian Financial Intelligence Unit to strengthen transparency and regulatory compliance in Nigeria’s blockchain ecosystem.
SiBAN President, Mela Claude Ake, led the association’s delegation during a courtesy visit to the NFIU headquarters in Abuja on March 3.
The meeting focused on improving compliance standards among Virtual Asset Service Providers (VASPs) operating in Nigeria.
NFIU Chief Executive Officer Hafsat Abubakar Bakari welcomed the initiative.
She described the engagement as an important step toward ensuring the safe and responsible adoption of digital financial technologies in the country.
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Bakari also urged greater collaboration among blockchain associations to support effective regulation and credible integration of virtual asset operators into Nigeria’s financial system.
During the meeting, SiBAN representatives commended the NFIU for its efforts to strengthen Nigeria’s financial integrity.
They stressed that clearer regulatory guidelines would help unlock investment, innovation and growth in the country’s blockchain sector.
The NFIU also reaffirmed its commitment to supporting the industry.
Officials said the agency will provide risk indicators, regulatory guidance and capacity-building initiatives to help create a secure and compliant digital asset ecosystem in Nigeria.
