The president of Nigeria, Muhammadu Buhari will formally present the Nigerian CBDC, eNaira, tomorrow, at the State House, Abuja.
The release of the CBDC follows a couple of years of research by the Central Bank of Nigeria (CBN) as a way to discover how to advance the payment system so that everybody in the country can make financial transactions.
Osita Nwanisobi from Corporate Communications declared:
“Given that the eNaira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms. The CBN will continue to work with relevant partners to ensure a seamless process that will benefit every user, particularly those in the rural areas and the unbanked population.”
He further added:
“Since the eNaira is a new product, and amongst the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the eNaira. Accordingly, following Monday’s formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement.”