In response to the escalating wave of cybercrimes, particularly those involving virtual assets like stablecoins, Nigerian Interpol, in collaboration with cybersecurity experts and local intelligence agencies, convened to strategize on combating cyber threats effectively.

The meeting, held in Abuja, Nigeria's capital, was organized under the auspices of a training platform orchestrated by A&D Forensics in partnership with the Africa Stablecoin Consortium. Its primary objective was to equip Nigerian Interpol officers with the necessary skills to tackle crimes related to digital assets, with a specific focus on stablecoins.

Blockchain specialist Chioma Onyekelu emphasized that the training aimed to empower Interpol agents with blockchain intelligence and analysis techniques to track and prosecute cybercriminals engaged in cryptocurrency transactions, particularly those utilizing Bitcoin and stablecoins.

Highlighting the evolving landscape of cybercrime, Onyekelu stressed the imperative for Nigerian Interpol to enhance its capabilities, especially considering the increasing involvement of virtual asset exchanges in Nigeria. The training seeks to equip officers with the expertise needed to combat cybercrimes involving virtual assets, particularly stablecoins.

Adedeji Owonibi, senior partner at A&D Forensics, underscored the significance of the training initiative against the backdrop of rising cybercrime trends in Nigeria. He emphasized the need to bridge the gap between evolving cybercrimes and law enforcement capabilities, asserting the corporate responsibility of supporting law enforcement agencies in effectively combating cyber threats.

Addressing the recent controversies surrounding cybersecurity measures, Owonibi defended the government's authority to make decisions impacting national security. He emphasized the importance of prioritizing national security interests in light of evolving cyber threats.

In parallel developments, the Central Bank of Nigeria (CBN) mandated banks and payment service providers to levy a 0.5% charge on electronic transactions, with proceeds directed to the National Cybersecurity Fund managed by the Office of the National Security Adviser (ONSA). Additionally, Nigeria's Securities and Exchange Commission (SEC) has intensified regulatory measures, including banning peer-to-peer cryptocurrency exchanges using the naira, signaling a significant regulatory shift in the cryptocurrency space.

Amidst these developments, the International Monetary Fund (IMF) has recommended embracing crypto adoption, proposing the licensing of global cryptocurrency exchanges as part of Nigeria's economic reform measures.