Potential in Nigeria’s digital assets market – Tegbe
Tegbe
Potential in Nigeria’s digital assets market – Tegbe
*…noting the importance of applying Chinese technology in the digital asset market.
Experts and policy makers have stated that the Investment and Securities Act (ISA) 2025 has placed the country as a major player in the 4th Industrial Revolution.
This was at the recent ‘Digital Asset Markets Strategy Masterclass Series’ held in Lagos, where deliberations were held on the landmark legislation signed into law in March 2025, by the Federal Government, which empowers the Securities and Exchange Commission (SEC) to oversee digital assets, virtual asset service providers (VASPs), and tokenised securities, bringing clarity to a space that has operated in a legal grey area for years.
Speaking at the event, the Director-General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, noted the importance of leveraging Chinese technology, particularly in the digital asset market and knowledge transfer.
He assured that the NCSP is dedicated to supporting the globalisation of Nigeria’s capital market. He outlined the impact of the digital RMB, explaining how Nigeria can leverage and benefit from it.
Tegbe revealed that Nigeria has received over $30 billion in investment commitments and 300 expressions of interest from different Chinese companies within the last five months and will soon sign a pact on ‘Digital RMB’ with China to enable a direct conversion of Naira to Chinese Yuan, thereby reducing the country’s dependency on the dollar.
This is in furtherance of the transition of Nigeria’s relationship with China from a trade relationship to a mutually-beneficial development partnership. He concluded by emphasising the objectives of the Nigerian-China Strategic Partnership to drive infrastructure development, scale up investments from China, strengthen Nigerian-China trade and economic relations, promote knowledge and economic transparency, and also advance cultural exchanges between the two nations.
Governor of Lagos State, Babajide Sanwo-Olu, revealed that the state was set to monetise idle assets and raise a green bond to fund infrastructural development within the state, which will make them the first sub-national to do so.
Represented by the Commissioner of Finance, Abayomi Oluyomi, the Lagos State governor added that Lagos State is developing a securitisation policy to monetise and liquefy its idle assets to finance the state’s infrastructure needs.
In his address, the Masterclass Convener, Dr Nicholas Okoye, noted that the digital transformation driving the fourth industrial revolution has touched every industry and is projected to create monumental fortunes for wealth-conscious investors, institutions, Nations, and sub-nationals.
Okoye, a globally-acclaimed Investment Advisor, stated that “the most strategic ecosystem of this digital transformation has got to be ‘Digital Asset Markets, which includes investment in cryptocurrencies as well as the tokenisation (digitisation) of traditional asset classes. The proposed full adoption of ‘Digital Asset Markets’ in Nigeria’s capital markets and subsequently across Africa is going to be a game changer for wealth creation and economic growth sustainability. In addition, it will completely redefine the future of African finance, investment and capital market industries.”
