Concerned about the growing cases of cybercrime, money laundering, and terrorism financing linked to digital finance platforms, the House of Representatives has set up an ad hoc committee to review the economic, regulatory, and security implications of cryptocurrency adoption and Point-of-Sale (POS) operations in Nigeria.

Speaker of the House, Abbas Tajudeen, who inaugurated the committee on Monday in Abuja, said the move became necessary amid increasing concerns over fraud and consumer exploitation in the country’s rapidly expanding digital finance ecosystem.

He noted that while Nigeria’s resilient economy has the potential to support cryptocurrency growth, the risks associated with its unregulated operations, including its use for illicit financial flows, cannot be overlooked.

Abbas explained that the absence of clear regulatory guidelines, coupled with the volatility and complexity of digital assets, compelled the House to intervene and establish a regulatory and consumer protection framework for Virtual Asset Service Providers (VASPs), including cryptocurrencies and crypto-assets.

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He said Nigeria’s economy has consistently demonstrated resilience, often recovering from recessions and recording growth in non-oil sectors, making it a potentially strong environment for cryptocurrency trade. However, he cautioned that the vulnerabilities inherent in digital currency operations must not be underestimated.

“It is because of this absence of clear rules, coupled with the volatility and complexity of the technology, that the House of Representatives found it imperative to establish regulations and consumer protection measures that will regulate the activities of Virtual Assets Service Providers, including cryptocurrencies and crypto assets,” Abbas said.

He added that the committee’s mandate includes conducting public hearings to gather input from stakeholders that would guide the House in developing legislation for a comprehensive regulatory framework governing cryptocurrency and other digital finance platforms.

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The Speaker urged members of the committee to discharge their duties with patriotism and integrity, ensuring that the best interests of the nation guide their work.

In his remarks, the Chairman of the Committee, Olufemi Bamisile (APC–Ekiti), described the assignment as one of national importance aimed at striking a balance between financial innovation and national security.

“We have been entrusted with a task of national significance — to review the economic, regulatory, and security implications of cryptocurrency adoption and Point-of-Sale operations in Nigeria,” Bamisile said.

He added that the committee would work closely with key regulatory and security agencies such as the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigeria Deposit Insurance Corporation (NDIC), Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigeria Police Force.

Governor Monday Okpebholo of Edo State has commended the management and staff of the Edo State Development and Building Control Agency (ESDBCA) for their significant contributions to urban growth and infrastructural development across the state.

The governor gave the commendation on Monday when he played host to the delegation of the agency in his office as part of programme to mark this year’s World Habitat Day celebration.

The deputy governor, Hon. Dennis Idahosa who received the team on his behalf, commended the agency led by the Managing Director, Mr. Imoisili Igabali, for its “selfless contributions” to the development of our dear state.

In a statement by his Chief Press Secretary, Mr Friday Aghedo, Idahosa noted that the agency had played a pivotal role in driving urban renewal and enforcing modern building standards in the State, describing their efforts as vital to the government’s vision of sustainable city planning.

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“We want to thank you for being part of the growth and development of our dear state. Your work has not gone unnoticed.

“What is most important to us is that we have the political will to ensure that this agency continues to fulfill its mandate effectively,” he stated.

He expressed optimism on the future of urban development in Edo State and pledged continued government support for the agency’s initiatives.

“On behalf of His Excellency, Senator Monday Okpebholo, I want to thank you for this wonderful day.

“We congratulate you as a state, and we thank God for giving us a capable leader in Mr. Igabali, whose dedication and teamwork continue to yield results,” he said.

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Earlier in his remarks, the Managing Director of the agency expressed appreciation to the Governor and his deputy for their support and for taking the time to receive the agency’s delegation during the World Habitat Day observance.

The 2025 World Habitat Day celebration in Edo State was marked with renewed calls for sustainable housing, improved infrastructure, and enhanced urban management — key pillars of the Okpebholo administration’s development agenda.

The United Nations Population Fund (UNFPA) has supported Bauchi State to inaugurate the first Disability Inclusion Technical Working Group (DITWG) aimed at promoting equity, inclusion, and human rights for persons with disabilities.

Speaking during the inauguration of the group in Bauchi on Monday, Ms Muriel Mafico, UNFPA Representative in Nigeria said that out of the 19 Northern states in Nigeria, Bauchi was the first to inaugurate the group.

According to her, the inauguration marked a significant milestone in the collective commitment in advancing inclusion, equity, and human rights for all persons with disabilities.

Represented by Olawunmi Akande, an official of UNFP, Mafico said that disability inclusion is central to achieving the Sustainable Development Goals (SDGs) and the vision of the 2030 Agenda.

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“Disability inclusion is not an act of charity, but a matter of human rights, development, and justice.

“UNFPA is committed to ensuring that persons with disabilities, especially women, girls, and young people have equal access to sexual and reproductive health services, education, and opportunities to participate meaningfully in decision-making processes.

“UNFPA stands ready to support this Working Group through evidence generation, capacity building, inclusive programming, and technical assistance,” she said.

Also speaking, Mr Abubakar Sambo, an official of the Bauchi State Agency for Disabled Persons, said that the objectives of the group was to promote, coordinate and collaborate through a multi-sectoral approach to disability inclusion by bringing together relevant stakeholders and Organizations of People with Disabilities.

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He also explained that the group would provide technical support and expertise in areas such as inclusive education, accessible infrastructure, health services, and disability-inclusive employment practices.

Sambo also emphasized on monitoring and reviewing policies and programmes in Bauchi State to ensure alignment with international standards and best practices.

He added that the technical group would also advocate for disability rights through public awareness campaigns, policy dialogues, and engagement with key decision-makers, Amongst others.

Earlier, Mrs Brisca Jerome, Executive Secretary, Bauchi State Agency for People with Disabilities, said the support from UNFPA would complement the state government’s efforts toward inclusive governance.

She appreciated the support of the UN agency and the state governor for creating an enabling environment for partners to strengthen activities and programmes targeting persons with disabilities.

She said that the DITWG consists of a 36 man group from all stakeholders in the sector.

The DITWG is to be chaired by the Executive Secretary, Bauchi state Agency for People With Disabilities.