A University Lecturer at Ekiti State University, EKSU, Ado-Ekiti, Professor Lawrence Boboye Ajayi , has urged the government to put stronger rules in place for cryptocurrency and fintech to help grow Nigeria’s economy.

The scholar made the call on Tuesday while delivering the 98th inaugural lecture at the university. The lecture was titled “Naira to Crypto: Fintech’s Innovation, Foreign Investment, and Economic Prosperity in Nigeria”.

The event attracted academics, students, community leaders, and government holders. In his lecture, Professor Ajayi stressed that the negative perception of cryptocurrency in Nigeria stems from weak regulation.

He explained that when institutions such as the Central Bank of Nigeria, the Economic and Financial Crimes Commission (EFCC), and the Securities and Exchange Commission fail to curb fraudulent activities, ordinary citizens are led to believe that cryptocurrency itself is inherently risky