The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa.
Nigeria to Launch CBDC in Days
- Emefiele’s reassurances to Nigerians follow the CBN’s deferment of the e-naira launch to an unknown date.
- Sources disclose Emefiele said on Thursday the e-naira CBDC will make Nigeria “one of the first countries in Africa to adopt the digitisation of its national currency.”
- As previously reported by Bitcoin.com News, the central bank claimed it had postponed the e-naira’s launch because this would have clashed with the country’s independence day celebrations.
- However, some observers have speculated that the deferment may have been necessitated by a legal challenge that was brought against the central bank by a Nigerian firm.
- A Nigerian court has since ruled in favor of the CBN thus paving the way for the launch of a digital currency that will be one of the first in Africa.
- When finally launched, this digital currency is expected to accelerate financial inclusion and enable cheaper and faster remittance inflows, according to the CBN.
- The launch of the CBDC will also ensure that the central bank will maintain control of the monetary system.
- 12 days ago on September 27, Nigeria’s official website for the e-naira which states: “Same Naira. More Possibilities” and that financial transactions will be “easier.”
- The website also boasts an e-naira wallet, which can be downloaded via Google Play for Android and the Apple App Store for iOS devices.
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