Adedeji Owonibi Advocates for Comprehensive Crypto Regulation in Nigeria to Combat Financial Crimes

Adedeji Owonibi Advocates for Comprehensive Crypto Regulation in Nigeria to Combat Financial Crimes



Adedeji Owonibi, Co-founder of A&D Forensics, a blockchain intelligence firm based in Nigeria, highlighted the current unregulated state of Nigeria's cryptocurrency market allows for unchecked practices. He advocated for the Nigerian government to implement regulations on cryptocurrency transactions to mitigate financial crimes, such as money laundering.



During a cryptocurrency compliance specialist training event hosted by a Blockchain and Digital Forensic company on February 9, Owonibi underscored the necessity for comprehensive regulation in the cryptocurrency sector. He argued, "Without clear legal frameworks, we cannot define or penalize offenses within the crypto space in Nigeria."



Following the Central Bank of Nigeria's (CBN) decision to lift the ban on crypto transactions, enabling banks to manage accounts for Virtual


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