TheCable

The Advocacy for Policy and Innovation (API), a not-for-profit organisation, has launched Nigeria’s first policy analysis and advocacy platform.

The platform will support technology-enabled entrepreneurs, investors and other stakeholders to understand proposed policies and laws that may affect their operations.

Globally, there has been an increased focus on digital assets and currencies.

Leading multinational investment banks, such as Goldman Sachs, are beginning to offer investment opportunities in bitcoin and other digital assets to customers.

However, the Central Bank of Nigeria (CBN) recently issued a directive to banks to close accounts of persons or entities involved in cryptocurrency transactions.

The apex bank cited risks of “loss of investments, money laundering, terrorism financing, illicit fund flows and criminal activities” as reasons.

But in a statement, API said there is need for increased understanding of the opportunities in the digital economy industry.

“API will also constructively engage and educate policymakers on the impact policies may have on technology enabled businesses in Nigeria’s fast growing digital economy. Furthermore, API will track, and provide information, insight and analysis on current policies, policies under development and legislative bills,” the statement reads.

“Recently, policymakers at all levels have inadvertently issued policy directives and rules that have effectively slowed our progress towards a digital economy and wiped out lucrative digital jobs while significantly distorting value. It is imperative that vigilance, dialogue and meaningful engagements are deployed to accelerate growth, protect investments, create opportunities for young people and keep Nigeria (as) Africa’s leader in technology entrepreneurship.”

The group said the platform will allow entrepreneurs, investors and other stakeholders to engage with policies, policymakers and policy development to ensure that their ideas are reflected in policy making.

It said resources to facilitate these engagements will be embedded in specific policy/bills analysis which will be available on API’s platforms and a feedback mechanism that will enable consensus building and input from experts.

Victoria Manya, the group’s executive director, said API will leverage its network and channels to advocate for policies that will accelerate Nigeria’s digital economy.

“By contributing to concerted efforts at underpinning an effective policy making process, we intend to make it easier for public-private partnerships to guide the shaping of Nigeria’s digital economy,” Manya said.

“We can only achieve this by engaging with the   relevant audiences, maximizing stakeholder feedback, bridging policy asymmetries and transmitting valuable intelligence. By conveying descriptive and detailed policy   analysis and industry-related white papers, we  anticipate a tangible impact on the accessibility, relevance and adaptability of policy information to stakeholders.”

API said it has established partnerships with other innovation companies such as Co-Creation Hub, Future Africa, Ventures Platform, FSI and Tech Hive to execute effective programs in achieving an all-inclusive policy framework for accelerating Nigeria’s digital economy.