President Buhari launched the Nigeria Central Bank Digital Currency (CBDC) on Monday, October 25 2021. The Central Bank of Nigeria (CBN) also issued a circular on the Regulatory Guidelines on the eNaira. The CBN stated in its circular that the eNaira will, among other things, “compliment cash as a less costly, more efficient, generally acceptable, safe and trusted means of payment and store of value”
The recently launched eNaira is the first African digital currency, and it is projected to develop the Nigerian economy, and increase the tax base of the nation.
Click here to access the CBN Circular dated October 25 2021
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