BUSINESS

Buhari To Formally Unveil Nigeria’s Digital Currency Monday

All is set for Nigerian President, Muhammadu Buhari, to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja.

Newsbeatng reports that the launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria.

This, itself, is in advancing the boundaries of payments system in order to make financial
transactions easier and seamless for every strata of the society.

Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and indeed, a cross section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.

It would be recalled that the event was billed to hold on Oct 1,2021 before it was postponed due to logistics and legal issues.

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