Experts list digital asset risks, caution against fraudsters

Ogunsuyi and Agama at the expo centre

Nigerian technology entrepreneur and Web3 advocate, Kehinde Ogunsuyi David, has called for stronger digital asset protection and clearer regulations to protect cryptocurrency users while promoting innovation in Nigeria’s digital economy.

Speaking with Arewa PUNCH in Kano, on the sideline of a session on cryptocurrency security, Ogunsuyi examined common vulnerabilities in digital asset platforms and tactics used by scammers to defraud unsuspecting users.

He noted, “The continued growth of the blockchain industry must be accompanied by stronger security awareness, responsible innovation and greater accountability among ecosystem participants.”

While stressing 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, also at the Africa Blockchain Festival 2026, held from October 15 to 17 at the Sarit Expo Centre in Nairobi, Kenya, stated further in a follow up statement to our correspondent, that, 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.

He stressed that, “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 insisted that a balanced regulatory framework could protect users without unnecessarily restricting entrepreneurship and technological advancement, while creating opportunities for business growth and employment.

Arewa PUNCH, further reports that, Ogunsuyi 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 connection between the creative economy and Web3 presents opportunities for digital ownership, community building, creator-led business models and new forms of collaboration across Africa,” the discussions highlighted.

• Nigeria’s remittance inflows hit record $1.57bn in Q2
• Recapitalised banks: Missing link between profit and prosperity
• Fani-Kayode assumes duty, vows to protect Nigerians in S’Africa

It was further gathered that the technology entrepreneur 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 opportunities for collaboration and improved market access for Nigerian technology entrepreneurs and digital asset users, although further engagement would be required to determine the structure of any proposed partnership.

Ogunsuyi, also moderated a panel discussion on digital identity, “Know Your Customer Requirements and African data protection laws,” which examines the balance between regulatory compliance, security and personal privacy. He also connected with industry stakeholders, including Dami Adenuga, during broader conversations on technology and innovation.

Reflecting the themes of the festival, Ogunsuyi’s engagements focused on the need for responsible regulation, digital security and stronger partnerships to support Africa’s growing digital economy.

Our correspondent reports that he is the co-founder of WestTrybe and TrybeBoost, businesses operating in digital media, marketing and technology-driven services.