In Part 2 of our Talking Legal with TEMPLARS episode on “Legal Issues in the Metaverse”, our Partner, Dupe Saba (née Dabiri) and Associate, Okabonye Chukwuani, delve deeper into the Metaverse and its legal implications in Nigeria, exploring potential issues and opportunities.

This sequel also delves into financial, cybersecurity, privacy and content regulation under Nigerian law, and the National Information Technology Development Agency (NITDA) Draft Code of Practice for internet intermediaries.

Highlights include:

Regulating Metaverse Finance: Challenges of regulating virtual currencies and potential risks of fraud and money laundering in the Metaverse.

Protecting Privacy and Cybersecurity: The role of the legal system in protecting privacy and cybersecurity in the Metaverse and whether the same rules from the real world apply.

Unique Challenges of Content Regulation: The need for regulations that balance freedom of expression with protection against harmful content in the Metaverse, as well as the role of the NITDA Draft Code of Practice in setting standards for internet intermediaries.

Adapting Existing Laws to the Metaverse: The challenges and opportunities of adapting existing Nigerian data and content laws to the virtual world, along with the implications for businesses operating in the Metaverse.