WORLD Nigeria launches Africa's first central bank digital currency

WORLD

Nigeria launches Africa's first central bank digital currency

Xinhua

11:28, October 26, 2021

Nigerian President Muhammadu Buhari (L) attends the launch of eNaira at the Statehouse in Abuja, Nigeria, on Oct. 25, 2021. Buhari on Monday launched the eNaira, the country's central bank digital currency (CBDC). (Nigerian Presidency/Handout via Xinhua)ABUJA, Oct. 25 (Xinhua) -- Nigerian President Muhammadu Buhari on Monday launched the eNaira, the country's central bank digital currency (CBDC), becoming the first African nation to introduce an official digital currency.With the launch of the eNaira in Abuja, Buhari noted Nigeria is also one of the earliest in the world to introduce a digital currency to its citizens.In recent times, a global trend is the use of physical cash in conducting business and making payments has been on the decline, the Nigerian leader said at the unveiling of the eNaira Digital at the Statehouse in Abuja on Monday."This trend has been exacerbated by the onset of the COVID-19 pandemic and the resurgence of a new digital economy. Alongside these developments,

Nigerian President Muhammadu Buhari (3rd L) attends the launch of eNaira at the Statehouse in Abuja, Nigeria, on Oct. 25, 2021. Buhari on Monday launched the eNaira, the country's central bank digital currency (CBDC). (Nigerian Presidency/Handout via Xinhua) 

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue