The Central Bank announced plans to launch its own digital currency later in 2021 after Nigeria barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February.
Central Bank Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account. In a statement, Emefiele said the currency would accelerate financial inclusion and enable cheaper and faster remittance inflows.
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