The Central Bank of Nigeria with its stakeholders outlined its digital currency initiative via a private webinar held today.
The Nigerian Central Bank Governor, Godwin Emefiele had earlier announced that the bank will be working on a central bank digital currency during the 306th Banker’s Committee meeting.
According to private sources, the pilot scheme will be launched on October 1st, 2021.
The press briefing delivered by the Director IT department, Rakiya Mohammed, at the end of the meeting further explained that the Bank had been conducting research in regards to central bank digital currencies since 2017 and may conduct a proof of concept before the end of this year.
The project name is tagged Project GIANT and it will use the Hyperledger Fabric Blockchain.
Nigeria’s central bank further revealed that the importance of eNaira includes Macro management and growth, cross border trade facilitation, financial inclusion, monetary policy effectiveness, improved payment efficiency, revenue tax collection, remittance improvement, and targeted social intervention.
The Nigerian Apex Bank also underlined the benefits for the fintech ecosystem that include enhanced operational efficiency, opportunities for fintech start-ups in building services/products like financial inclusion that will contribute to the economic growth, and the creation of a new system complimenting the traditional payment system.
Okay let watch and see
unless country that has banned crypto currency exchange youths are doing to help themselves have now bring out crypto currency in different forms. if everyone refused to make use of it you can’t force it on anyone.
Wo
You should not be in haste, let it be step by step new kid on the rock
Our confused government.
Have they forgotten their restrictions on the usage and trading of Crypto in Nigeria. They really caused us heartbreak and caused some depression.
Me no go ever follow una buy am.
This is a welcome development that out country Nigeria will be back on international recognition for economic growth and development even as to lunch her crypto currency coin wao
Are they just realizing that digital currency is the way forward. Anyways let’s anticipate for it
Nigeria is lagging behind. Anyway, It’s better to be late than never.
Looking forward to seeing it.
well,,,, lets see how it goes..
? ?…. If you buy am you’re on u your own oo.. Tmoro APC government go change am to bandit giant… We don’t trust their initiative because it can be politically infected..
My brothers and sisters please let’s not fall for their tricks,this bastards are just finding a way to ruin us
That’s a welcome idea,we need to be among the revolutionaries Nation.
My brothers and sisters please don’t fall for this trap, this bastards want to ruin us with every means
What’s different with the One Crpyto currency that’s used world wide that this so called Country Nigeria Rejected. What’s so special about this coin of yours, isn’t going to be another opportunity to oppress the masses with heavy Charges in just a little transaction.
We don’t need the so called cryptocurrency of yours.
I see this as public display of hypocrisy. I thought they banned crypto/digital currency……..no matter how hard they try to bring us down we shall surely succeed. That’s the naija spirit in us
This a nice development for our country we are Africa we should take a lead for others to follow thanks to Central Bank of Nigeria thanks to Federal government. Long live Nigeria and Nigerians
It will work if and only if we will still work with our volatile coins else sorry it will not work because Nigerians are volatile. They want to use the medium to monitor us through this trap. And if they try to stop our Crypto, trust Nigerians no body will buy their useless coin that is easyly vulnerable to hacking. Mumu clueless leaders i thought u said digital currency are illegal money
u
Ok I don here
Its nothing to show the world, any country that lost peace,equity and transferancy no need to wast their resources on nairametrics while many where kill everyday some are die becouse of poverty.
Im very appreciate his effort if its true,because on this country there’s more of Hocker’s throughout in social media, before you found any solution to make cyptocurrency as an illegal business online the only right ways to distroy the those hacker’s
Will It Be Available In The Existing Wallets/Platforms?
How And When Can We Start Mining??
Just Curious!