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Central Bank of Nigeria (CBN) Governor Godwin Emefiele says will its launch digital currency eNaira in a couple of days. The move followed Nigeria banning banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February this year.

Central Bank of Nigeria

Governor Godwin Emefiele of the Central Bank of Nigeria said Thursday that the CBN will launch its digital currency, the eNaira, in a couple of days from now Reuters reported.

He said this would make Nigeria "one of the first countries in Africa, and indeed the globe, to adopt the digitisation of its national currency".

Emefiele had previously said the eNaira would operate as a wallet against which customers could hold existing funds in their bank accounts, and that this would accelerate financial inclusion and enable cheaper and faster remittance inflows. The CBN had named Barbados-based Bitt Inc as its technical partner in developing the eNaira.

Source: Reuters

From The TradersCommunity News Desk

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