IMF release reveals its role in Nigeria’s eNaira project launch
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ambcrypto.comLess than a month after the eNaira’s launch on 25 October, the stats have impressed experts worldwide. According to a Central Bank of Nigeria official who spoke to Bloomberg, there were over 488,000 downloaders. More than 75,000 international merchants have reportedly signed up as well.
The International Monetary Fund [IMF] is in the news today after it published a note with its own views on Nigeria’s CBDC launch.
In its release, the IMF listed out some potential risks associated with the country’s eNaira. Specifically, the international body noted the need for cyber security management and the potential competition the CBDC could pose to banks.
The release stated,
“For example, eNaira wallets may be perceived, or even effectively function, as
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