CBN Lists Benefits Of Its Digital Currency, E-naira In Financial System
As earlier reported by nairaland.com, the Central Bank Digital Currency (CBDC) will also make it easier for the banking system to comply with existing laws such as anti-money laundering, ensuring the safety and stability of the payment system and protection against customer fraud.
One of the speakers at the ‘Central Bank Digital Currencies: Insights for the 21st Century Banker’event held at Lagos on Thursday, Lamido Yuguda, the Director-General of the Securities and Exchange Commission, who happens to be one of the key players in the successful operation of the digital currency, said that the e-Naira, which is about to be launched in later this year, would help improve the capital market when combined with vibrant inter-developmental policies, which would lead to financial inclusion, especially in the capital market.
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According to the Deputy Governor of CBN, “the central bank digital currency offers all the benefits of cash but in digital form. Any unattached digital currency is an electronic version of the cash, the legal tender. Information Guides Nigeria
“It is tremendous to also note that the currency also offers a safer option from the privately issued cryptocurrency which has been based on the possibility to enable cheaper transactions but has now been used for investment.” JAMB Result
Check and Confirm: How much is Dollar to Naira today
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