Connect with us

Business News

Nigerian Central Bank to launch digital currency in a few days: Godwin Amefeele



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

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

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

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

Emefiele had earlier said that eNaira would act as a wallet against which customers can hold existing funds in their bank accounts, and this would accelerate financial inclusion and enable cheaper and faster remittance flows.

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

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


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright Indian Lekhak Limited 2021. All Rights Reserved