Interview Spotlight
FavourUche on Crypto Law, Token Design, and Building Legal Trust in Web3 Nigeria.
We had the pleasure of speaking with Favour Uche, a Web3 product manager and lawyer based in Nigeria, to explore how regulation, legal clarity, and smart token design can support or stifle —blockchain innovation. In this exclusive interview, Favour shares her views on Nigeria’s evolving crypto policy, and why legal professionals must take a more active role in shaping trust and transparency across the Web3 space.
1. What’s your take on Nigeria’s evolving crypto regulation? Is it enabling innovation or stifling it?
"When the SEC introduced its digital asset guidelines, it felt like a breakthrough. But the optimism quickly faded. The requirements are steep, and the program itself isn’t exactly 'accelerated', only two licenses have been granted in over a year. As a result, many builders either go offshore or underground, which defeats the purpose of regulation entirely. Without clarity, startups can’t access banks or form partnerships. So no, the current framework isn’t enabling innovation. We need inclusive, adaptive regulation that reflects what’s actually happening on the ground not just what looks good on paper."
2. As a crypto lawyer, what are the key legal risks for blockchain startups building utility tokens, like Apraemio?
"The biggest risk is misclassification. Founders often assume a 'utility token' is safe, but regulators focus on how it’s used, not just what it’s called. If it’s speculative, it might be treated as a security. Other risks include non-compliance with KYC/AML laws, unclear tax treatment, and unintended exposure to foreign jurisdictions. Startups should bring legal counsel in early, not after launch. A well-structured token model can reduce risk, open more doors, and make partnerships easier. Legal clarity is essential for scaling."
3. What regulatory lessons can Nigeria learn from places like Dubai’s VARA or India’s tax model?
"Dubai’s VARA is a strong example, it’s crypto-native and agile. Nigeria needs something similar: a dedicated body with Web3 expertise, not just legacy regulators adapting old rules. India shows that even a tough tax model can legitimize crypto. Nigeria should tax crypto, but in a way that supports early innovation. We also need more research-driven regulation, like we’re seeing in the U.S. Laws should reflect how the technology works, not just how traditional finance works. Above all, regulation should be proportional. A small startup shouldn’t be treated like a billion-dollar exchange. Differentiation is key."
4. What role can legal professionals play in shaping trust and transparency for projects like Apraemio?
"Lawyers aren’t just here to check compliance boxes, we’re builders of trust. In a decentralized space, we help projects align with regulators, protect users, and design clear governance structures. For a project like Apraemio, that means making sure the token is legally sound, rights are clearly defined, and there are systems for transparency. When a project has legal credibility, users engage more, partners feel safer, and regulators are more willing to collaborate. That’s the real value legal professionals bring, we help make innovation legitimate and sustainable."
