Nigeria Ready To Develop CBDC

📣 Central Bank of #Nigeria 🇳🇬 to Unveil its #DigitalCurrency, ‘e-Naira’ in October!

👉 The #CentralBank of Nigeria (#CBN) plans to test its Central Bank Digital Currency (#CBDC), and the pilot will begin as early as #October.

👉 The CBN Director, #RakiyaMohammed stated that the bank has been exploring the expertise for the last two years and can launch Nigeria’s #digitalmoney by the end of this year.

👉 Mohammed says that the foreign money would complement money notes and will make remittance transfers easier for Nigerians.

👉 CBDC will improve economic growth, make cross-border transactions more manageable and give more people access to banking services.

👉 Earlier this year in February, Nigeria had barred its banks and financial institutions from facilitating transactions in cryptocurrencies.

Learn more…👇

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