CBN Postpones e-Naira Launch

The New Diplomat
Writer
CBN Owes $14Bn Debt, Finally Releases Financial Statement After Seven Years

Ad

5 Countries That Offer Loans For Buying Property Overseas

Securing a mortgage for the purpose of buying property overseas is possible in select countries. It’s true that it can be more challenging, as many foreign banks are cautious about lending to non-residents. It’s also true that the terms will likely be different from what you’re used to, especially if you’re American. Don’t expect a…

The Need for Nigeria to Lead Africa in the Emerging Age of Artificial Intelligence

By Sonny Iroche Introduction: Standing at the Threshold of the Fourth Industrial Revolution The world is on the cusp of a seismic transformation driven by Artificial Intelligence (AI). Just as steam engines powered the first Industrial Revolution, electricity and mechanization the second, and digital computing the third, AI is the defining force of the Fourth…

Why Wike Should Resign or Be Sacked: A Call to Organized Civil Society in Nigeria to Uphold Anti-corruption Standards with Consistency, By Frank Tietie

By Frank Tietie The revelations by Nigerian social crusader, investigative journalist, and activist Omoyele Sowore regarding the current Minister of the Federal Capital Territory, Nyiesome Wike, are serious and warrant the attention of all Nigerians who care about the integrity of the country. Sowore has alleged that Wike laundered funds and concealed the purchase of…

Ad

The Central Bank of Nigeria (CBN) has announced the postponement of the proposed launch of its digital currency, e-Naira.

A statement by apex bank’s Director of Communications, Mr Osita Nwanisobi, said that the launch, which was earlier scheduled for Oct. 1, was postponed due to other activities lined up to commemorate the country’s 61st independence anniversary.

Nwanisobi said that the CBN and other partners were working round-the-clock to ensure a seamless process that would be in the overall interest of customers, especially the unbanked population.

He said that with the e-Naira Nigerians would be able to carry out peer-to-peer transfer to another person’s e-Naira wallet, as well as pay for goods and services at selected merchants.

He added that the e-Naira would also help to reduce the use of cash and ensure the stability of the Nigerian economy.

The director assured Nigerians that financial institutions in Nigeria remained key actors and were a critical part of the CBN Digital Currency.

The News Agency of Nigeria (NAN) reports that some financial experts had earlier cautioned the apex bank to be a bit cautious and not to hasten to launch the digital currency.

Mr Okechukwu Unegbu, a past President of the Chartered Institute of Bankers of Nigeria (CIBN), had advised the CBN to engage more stakeholders in consultations and to carry out adequate sensitisation before launching the e-Naira. (NAN)

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp