Nigerian Stock Exchange to adopt Blockchain operation by 2023

Nigerian Stock Exchange to adopt Blockchain operation by 2023
Photo by Tezos / Unsplash

The Nigerian Stock Exchange Ltd. has revealed its plans to become blockchain-enabled in operations by 2023, to attract young investors to the market.

  • The digital step-up is coming after the Nigerian Security and Exchange Commission introduced regulations to guide the digital trading of assets.
  • The settlement of capital market transactions will be deployed on blockchain technology, claims the firm's chief executive, Temi Popoola.
  • Crypto transaction, a necessity for blockchain activities is largely considered a threat to the financial system in the country, even as the Exchange prepares to scale digitally.