When Hon. Olufemi Bamisile, Chairman of the House of Representatives Ad-Hoc Committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption, declared that “not every young Nigerian with a laptop and a crypto wallet is a fraudster,” it struck a deep chord with the country’s tech-savvy youth.
Bamisile’s statement was not just a defense of young innovators; it was an acknowledgment of a long-standing bias that has shaped Nigeria’s view of its emerging digital generation.
For years, the shadow of cybercrime, popularly known as Yahoo-Yahoo, has cast suspicion on Nigerian youth who engage with technology. What began in the early 2000s as a wave of internet fraud left a lasting imprint on the nation’s consciousness. As laptops became symbols of illicit activity, law enforcement agencies like the EFCC often profiled young people simply for owning the tools of modern innovation.
Unfortunately, this mindset persisted even as Nigeria evolved into one of Africa’s largest hubs for digital finance, crypto trading, and tech startups.
At the heart of this issue lies a complex mix of institutional misunderstanding. With limited job opportunities, many young Nigerians have turned to online freelancing, coding, and digital entrepreneurship as viable alternatives. Yet, these legitimate pursuits often face undue suspicion. Security agencies, operating with limited technical expertise, frequently fail to distinguish between digital work and digital crime. The result has been widespread harassment, unlawful arrests, and a growing distrust between young citizens and state institutions.
Bridging the Divide
This constant profiling has real psychological consequences. Many young innovators now live with fear and anxiety, uncertain of how their skills or digital activities will be perceived. It breeds discouragement, self-censorship, and even migration, fueling the “tech brain drain” as brilliant minds seek safer and more supportive environments abroad. The emotional toll of being seen as guilty by default cannot be overstated; it alienates youth from governance and undermines confidence in national institutions.
However, Hon. Bamisile’s committee signals a shift toward a more balanced approach. By engaging cryptocurrency operators, fintech leaders, and blockchain experts, the National Assembly is taking steps to understand the ecosystem rather than criminalize it.
The lawmaker’s call for security agencies like the NFIU and EFCC to develop technical expertise in blockchain operations is particularly crucial. Informed enforcement rooted in training, not suspicion, is the first step toward rebuilding trust.
To bridge this divide, Nigeria needs clear digital asset policies, stronger inter-agency coordination, and youth inclusion in regulatory design. Public campaigns that celebrate young innovators can help rewrite the narrative, replacing fear with pride. Ethical policing standards should also be institutionalized to protect digital citizens from harassment.
The future of Nigeria’s economy depends on its youth and their ability to innovate freely. Recognizing them not as suspects, but as stakeholders in the digital transformation, is the surest path toward a secure, inclusive, and prosperous nation
