CBN Postpones Digital Currency Launch

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The Central Bank of Nigeria, CBN, has announced the postponement of its Central Bank Digital Currency, CBDC, known as eNaira, to allow other key activities lined up to commemorate the country’s sixty-first independence anniversary to hold.

Speaking at Abuja, the CBN spokesman, Mr. Osita Nwanisobi, explained that the CBN took the decision to postpone the launch, originally planned to coincide with the independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria.

While assuring there was no cause for alarm, Mr. Nwanisobi said the CBN and other partners were working round the clock to ensure a seamless process that will be in the overall benefit of customers, particularly for those in the rural areas and the unbanked population.

Highlighting the benefits of eNaira, Mr. Nwanisobi said that Nigerians would be able to carry out peer-to-peer transfer to another person’s eNaira wallet as well as pay for goods and services at selected merchants.

He added that the eNaira would also help reduce the use of cash and ensure stability of the Nigerian economy.

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