Nigerian technology entrepreneur and Web3 advocate, Kehinde Ogunsuyi David, has called for stronger digital asset protection and clearer regulations to safeguard cryptocurrency users while supporting innovation and investment in Nigeria’s digital economy.
Ogunsuyi made the call during the Africa Blockchain Festival 2026, held from October 15 to 17 at the Sarit Expo Centre in Nairobi, Kenya, where he participated in discussions on cryptocurrency security, digital privacy, blockchain regulation and opportunities within Africa’s creative economy.
The co-founder of WestTrybe and TrybeBoost said the expansion of blockchain technology must be accompanied by stronger security awareness, responsible innovation and accountability among industry participants.
Speaking during a session on cryptocurrency security, Ogunsuyi examined common vulnerabilities in digital asset platforms and tactics used by scammers to defraud unsuspecting users.
“The continued growth of the blockchain industry must be accompanied by stronger security awareness, responsible innovation and greater accountability among ecosystem participants,” he said.
He stressed the importance of educating cryptocurrency users to recognise suspicious activities, understand the risks associated with digital asset platforms and make informed decisions to protect their investments.
Ogunsuyi’s call comes amid broader discussions about how African countries can protect consumers in the rapidly evolving digital asset market while creating room for legitimate businesses to develop blockchain-based products and services.
One of his major engagements at the festival was a meeting with the Director-General of the Securities and Exchange Commission Nigeria, Dr Emomotimi Agama, where they discussed Web3 regulation and consumer protection.
Their discussions focused on strengthening policies to protect Nigerians from cryptocurrency-related scams while establishing a regulatory environment that encourages legitimate innovation and investment.
Ogunsuyi said a balanced regulatory framework could help protect users without unnecessarily restricting entrepreneurship and technological advancement.
Such an approach, he argued, could also create opportunities for business growth and employment by giving entrepreneurs clearer rules within which to develop and deploy digital technologies.
The entrepreneur also met with Adewunmi Oladipo, popularly known as OJ, to discuss opportunities for connecting Africa’s creative economy with blockchain technology and expanding commercial opportunities for digital creators.
The discussions explored how Web3 could support digital ownership, community building, creator-led business models and new forms of collaboration across the continent.
Blockchain-based tools are increasingly being explored for applications involving digital content, ownership records and transactions. However, their adoption also raises questions about consumer awareness, security, privacy and the need for effective safeguards.
Ogunsuyi further met with Ally Ramji, founder of the Exchange Africa platform, to explore potential partnerships that could strengthen Nigeria’s participation in the wider Web3 ecosystem.
The meeting considered possible collaboration and improved market access for Nigerian technology entrepreneurs and digital asset users. However, further engagement would be required to determine the structure and scope of any proposed partnership.
In another engagement, Ogunsuyi moderated a panel discussion on digital identity, Know Your Customer requirements and African data protection laws.
The session examined the relationship between regulatory compliance, security and personal privacy, including the challenges of verifying users while protecting their personal information.
The discussion highlighted issues facing digital platforms as they seek to meet identification and compliance requirements without exposing users to unnecessary privacy risks.
Ogunsuyi also connected with industry stakeholders, including Dami Adenuga, during wider conversations on technology, innovation and opportunities for collaboration within Africa’s digital economy.
His participation at the festival brought together issues spanning consumer protection, regulatory clarity, digital identity and the commercial potential of blockchain technology.
For Nigeria, the discussions are particularly relevant as entrepreneurs and technology businesses explore digital assets and decentralised platforms while seeking a regulatory environment that provides clearer expectations for operators and adequate protection for consumers.
West Trybe reports that Ogunsuyi’s call reflects the growing need to balance innovation with safeguards in Africa’s digital economy, where clearer regulations, public education and stronger security practices could help build confidence among users while supporting responsible growth in the Web3 sector.
