Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Currencies

Bitt Inc, the company developing eNaira is not my company – CBN Governor

Ubah Jeremiah IfeanyibyUbah Jeremiah Ifeanyi
1 year ago
in Currencies, Spotlight
CBN Governor, Godwin Emefiele
Share on FacebookShare on TwitterShare on Linkedin

The Governor of the Central Bank of Nigeria has stated that Bitt Inc, the company developing the country’s digital currency, eNaira, is not his company.

This was disclosed in the Monetary Policy Council meeting today by the CBN Governor, Godwin Emefiele.

The CBN governor reassured  Nigerian about the launch date of the eNaira saying, “ The eNaira is a journey that would start on October 1 2021. On that date, Nigerians should be able to download the eNaira application from either Google play store or Apple app store.”

“They would be able to find their wallets using  their bank account and conductor transaction such as transfers and purchases at merchant outlets that have boarded to the platform.”

Emefiele also affirmed reports from Niarametrics that the CBN plans to own a stake in Bitt Inc., the preferred partner helping the apex bank implement its digital currency initiative.

He said, “Bitt Inc would establish that company in Nigeria and the CBN would own a majority stake in the company. So it is not my company as people have said.”

The Governor also expressed his confidence in Bitt Inc as the right company for the development of the eNaria.

He said, “The CBN went through a rigorous vendor selection process. Bitt came first with an average of 82.3%, scoring above the other 5 bidders.”

“Why did we choose Bitt Inc? Bitt is a leader in central banks digital currency space, with subject matter experts at the intersection between technology and policy.

“Bitt Inc is the first company to digitalize a Central Bank digital currency on a blockchain,” he added.

What you should know

  • Nairametrics reported in an exclusive that Nigeria’s Central Bank plans to own a stake in Bitt Inc. It was stated that one of the conditions being considered for accepting Bitt Inc is for the company to register in Nigeria as a Limited Liability company allowing the central bank to own shares in its Nigerian entity.
  • Bitt is a financial technology business that uses blockchain and distributed ledger technology to enable safe peer-to-peer transactions with seamless mobile money across Bitt’s software and mobile apps.
  • Bitt’s core objective is to develop payment systems for people, merchants, banks, and central banks that promote social inclusion, financial empowerment, and economic growth for current and future generations.

Related

Tags: Bitt InceNaira

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Geregu Power becomes first to release audited accounts in 2023, share price soars 10%
  • International Organization of Securities Commissions revises its 2011 principles 
  • NBS says Nigeria’s public debt has risen to N44.06 trillion

Follow us on social media:

Recent News

COVID-19: Otedola pledges N1 billion donation for Nigeria to combat disease, Otedola backtracks, says Adenuga has redeemed N1 billion pledge to the CACOVID fund

Geregu Power becomes first to release audited accounts in 2023, share price soars 10%

January 31, 2023

International Organization of Securities Commissions revises its 2011 principles 

January 31, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics