Ensure Strict Regulation To Stop Cybercrime With E-Naira – LCCI

Dr. Chinyere Almona, Director-General of the Lagos Chamber of Commerce and Industry (LCCI), has called for strict regulation of the e-Naira to combat cybercrime.

Dr. Almona said it was good that Nigeria was joining the digital transformation train while speaking with journalists in Lagos.

“In order to reduce cybercrime, it is critical that digital platforms be well supported and regulated.”

The e-Naira is a digital currency that will be launched on October 1 by the Central Bank of Nigeria (CBN).

With the proposed international financial centre, Nigeria’s desire to become a major player in Africa via the African Continental Free Trade Agreement (AfCFTA), and the emergence of special economic zones, among other intercontinental trade agreements, she believes that a digital currency will be required to facilitate trade and exchange.

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“Once again, we urge the best regulatory model that will boost business transactions rather than suffocate businesses that want to participate in that sector. Dr. Almona stated that “regulation should work toward achieving cyber-security and protecting transactions from frauds and hacking.”
“I plan to build on the successes of my predecessor by enhancing stakeholder engagement and advocacy with various arms of the state and federal governments,” Almona, who recently assumed leadership of LCCI, said.