‘Nigerian Central Bank To Launch Digital Currency Within Days’

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Nigerian Central Bank To Launch Digital Currency Within Days: Godwin Emefiele

The Central Bank of Nigeria had announced plans to launch its own digital currency this year.

Abuja: The Central Bank of Nigeria (CBN) will launch the eNaira, its digital currency, in a couple of days from now, Governor Godwin Emefiele said on Thursday.

He also said this would make Nigeria “one of the first countries in Africa to adopt the digitisation of its national currency”.

The CBN had announced plans to launch its own digital currency this year after Nigeria barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February.

Emefiele had previously said the eNaira would operate as a wallet against which customers could hold existing funds in their bank accounts, and that this would accelerate financial inclusion and enable cheaper and faster remittance inflows.

The CBN had named Barbados-based Bitt Inc as its technical partner in developing the eNaira.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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