Federal High Court of Nigeria 🇳🇬 Approved eNaira CBDC Rollout

📣 #Federal High Court of #Nigeria 🇳🇬 Approved eNaira #CBDC Rollout

👉 The #Nigerian 🇳🇬 Federal High Court approved the Central Bank Digital Currency (CBDC) rollout as a legal tender. eNaira — the #digitalcurrency will be issued by the central bank and will be supported by the home-developed #eNaira Wallet.

👉 Nigeria’s 🇳🇬 CBDC issuance approval was announced in a federal court hearing held on October 2, 2021, by Justice Taiwo Abayomi Taiwo. The official eNaira website explains that the digital version of the Nigerian naira will be made available universally, stating “anybody can hold it.”

👉 As previously reported by @GokuMarket, the Nigerian CBDC was dedicated to mark the country’s 61st #IndependenceDay. While eNaira will continue to circulate alongside its fiat counterpart, it is marketed as a faster, cheaper, and more secure option for monetary #transactions.

👉 As per the recent analysis #Kenya 🇰🇪, #SouthAfrica 🇿🇦, #Nigeria 🇳🇬 and #Tanzania 🇹🇿 have seen the highest #cryptoadoption among the African nations, resulting in a 1200% market growth between July 2020 and June 2021.

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