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Nigerian president to unveil eNaira central bank digital currency
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Nigerian President Muhammadu Buhari is set to officially introduce the country’s central bank digital currency (CBDC), the eNaira.
The Central Bank of Nigeria (CBN) has published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on Oct. 1. According to the design paper for the eNaira, the CBN now considers itself prepared to implement Nigeria’s CBDC.
The CBN is working on a global cryptocurrency that will be used as a means of payment and a store of value in addition to replacing cash.
The CBN, in its own statement, downplayed the risks of missing a deadline. Rather, the bank emphasized the value of getting things right the first time and how doing so contributes to
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