Nigeria: A Leaked Bill for Nigerian Startups Reveals a Theme of Licenses, Fees, Fines, and Sentences

For a while, there have been talks about revamping the outdated 2007 Act of Nigeria's information and technology body, the National Information Technology Development Agency (NITDA).

The bill which established NITDA as the agency to oversee Nigeria's technological transformation is quite outdated. This past decade, Nigeria has arguably become Africa's most attractive destination for venture capital. It is also home to two unicorns (Flutterwave and Jumia) and billion-dollar fintech company Interswitch.

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