CBN Set To Launch Digital Currency Within Days – Emefiele

CBN Set To Launch Digital Currency Within Days – Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele has revealed that the Apex Bank will launch its digital currency in a couple of days.

REUTERS reports that the CBN Governor, Godwin Emefiele revealed this while speaking at a conference on Thursday. Jamb Results

According to the CBN Governor, the launch of the digital currency (e-Naira) would make Nigeria one of the first countries in Africa, and the entire globe, to adopt the digitisation of its national currency.

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It could be recalled that the CBN had informed the public of its plans to launch its own digital currency after Nigeria barred banks and financial institutions from dealing in or facilitating transactions with cryptocurrencies this year.

Godwin Emefiele emphasised that the digital currency (eNaira) would operate as a wallet in which customers could hold existing funds in their bank accounts. Information Guide Nigeria

According to Emefiele, this would accelerate financial inclusion and enable cheaper and faster remittance inflows.

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

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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