Connect with us

    Hi, what are you looking for?

    E-Financial

    CBN Suspends e-Naira Roll Out

    The Central Bank of Nigeria (CBN) has postponed the introduction of its digital currency, dubbed e-Naira, which was supposed to happen on Independence Day.

    Ravenewsonline.com reports that CBN spokesman Osita Nwanisobi announced the suspension while speaking to the press in Abuja on Thursday.

    Other festivities planned for the country’s 61st independence anniversary will now be able to take place as a result of the change in events.

    There is yet to be a new launch date announced.

    The CBN had previously announced the launch of its digital currency (e-Naira) pilot program in October, citing the benefits of the digital currency as cross-border trade facilitation, financial inclusion, monetary policy effectiveness, improved payment efficiency, revenue tax collection, remittance improvement, and targeted social interventions.

    According to reports monitored by Ravenewsonline.com on Peoples Gazette, the apex bank had chosen Barbados-based financial tech company Bitt Inc. as the technical partner for the e-Naira initiative, in August.

     

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    Tech

    MTN Media Innovation Programme (MIP) Fellows, Cohort 4 have just concluded a week-long study trip to South Africa, exploring how media, diplomacy, and innovation...

    Oil and Gas

    Leading oil and gas experts in Nigeria have called for the full adoption of digital technologies to overcome the complex challenges facing the country’s...

    Tech

    Countries in Africa experienced over 190 internet shutdowns between 2016 and 2024, new research reveals today. The number of internet shutdowns across the continent...

    Tech

    Lagos State has reaffirmed its position as Africa’s leading technology and innovation hub following the successful hosting of the GITEX Nigeria Tech Expo, Future...