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Nigeria to launch digital currency on Monday, central bank says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This view depicts the Nigeria Central Bank headquarters at Abuja in Nigeria, November 22, 2020. Picture taken November 22, 2020. REUTERS/Afolabi Sotunde/File Photo

ABUJA, Reuters – Nigeria, months after its ban on banks and financial institutions dealing in or facilitating transactions with cryptocurrencies, will now launch a digital currency.

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), stated that the eNaira will be a digital wallet where customers can keep existing money in their bank accounts.

The bank released a statement saying that “eNaira” is a significant step in the evolution money. It also stated that it was committed to ensuring the eNaira is available for everyone, just like the Naira.

Nigeria named Barbados’ Bitt Inc as a technical partnership in the development of eNaira.

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