NGX Group of Companies in collaboration with Bantu Blockchain Foundation and WiFi Combat Academy hosted a webinar to commemorate 2022 World Intellectual Property (IP) Day 2022.
The webinar on Tuesday, April 26, 2022 themed “NFTs: The Wild and the Wonderful” was hosted to highlight the potential of leveraging intellectual property rights, particularly in the application of new digital assets such as Non-fungible token (NFTs), could be leveraged to achieve generate income, create employment opportunities, tackle local and global challenges and support community and national development.
In his opening remarks, Femi Oyenuga, Chief Digital Officer, Nigerian Exchange Limited (NGX) said, “With Nigeria’s burgeoning youthful population, increasing smartphone penetration, it is no surprise that Nigeria is now home to over 200 fintech standalone companies, plus a number of fintech solutions offered by banks and mobile network operators as part of their product portfolio. Whilst the proliferation of digital assets, including Non-Fungible Tokens (NFTs) presents significant challenges to the Nigerian capital market and financial industry as a whole, the ability to adapt and evolve to meet the ever evolving needs of customers and the marketplace is one of the most critical requirements in today’s fast paced, technology driven world. Recent trends in the application of Intellectual Property for digital assets present significant opportunities for key technology stakeholders to further drive economic growth and development through the ICT sector without stifling innovation and we welcome policy responses aimed at promoting ecomonic development while promoting investors”.
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On her part, Irene Robinson-Ayanwale, Divisional Head, Business Support Services Division, NGX encouraged attendees to respond to the SEC draft rules on the Issuance, Offering and Custody of Digital Assets, and Registration of Virtual Asset Service Providers issued by Securities and Exchange Commission (SEC) that are currently exposed for public commentary. She said, “ the proposed rules for the digital assets is not an act to stifle innovation, but to ensure digital assets are not used as an avenue for illicit activities to help investors and market stakeholders make the most of their digital assets while conducting their activities in a fair, efficient and transparent manner”.
Azeeza Jibril, Senior Manager, Fintech & Innovation Office, Securities and Exchange Commission (SEC) gave an Overview of the Proposed Rules on Issuance, Offering and Custody of Digital Assets and Registration of Virtual Asset Service Providers (VASPs).
Other speakers at the event include Toyin Adenugba, Head, Rules, and Adjudication, Victor Olorunfemi, Head, Branding & Communications, Bantu Blockchain Foundation, Dele Tejuoso, CEO, WiFi Combat Academy, and Uzodinma Maryjane, Certified Robotic Engineer & Digital Artist/Illustrator.
World Intellectual Property Day is observed annually on April 26 and was established by the World Intellectual Property Organisation (WIPO) Geneva to create opportunities for industry stakeholders to discuss trends in innovation and creativity. The webinar helped to deepen is h the discourse on the important role recent innovations in the digital space, specifically the important role NFTs now play globally and in the lives of the Nigerian youths.
