eNaira: Nigeria rolls out Africa’s first-ever digital currency
After much anticipation, the Central Bank of Nigeria’s digital currency is now live and available for download as Nigeria takes the lead as the first country in Africa with a working Central Bank Digital Currency (CBDC).
After a previous postponement, the CBN has finally launched the digital currency.
The move is coming months after the Central Bank barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies.
Read: As the eNaira debuts today, here are some reasons you should use the digital currency
Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account.
“The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed in ensuring that the eNaira, like the physical Naira, is accessible by everyone,” the bank said in a statement.
Nigeria has named Barbados-based Bitt Inc as a technical partner in developing the eNaira.
