Connect with us

Hi, what are you looking for?

E-Financial

CBN to Unveil eNaira Today

President Muhammadu Buhari will unveil the Central Bank Digital Currency (CBDC), known as the eNaira, today, October 25, at the State House, Abuja.

CBN Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers could hold funds in their bank account.

“The eNaira, therefore, marks a major step forward in the evolution of money and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone,” the apex financial regulator said in a statement.

Nigerians were turning to crypto for business, to protect their savings as the naira loses value, and to send payments abroad since it is often hard to obtain United States’ dollars.

Then, in February 2021, the Central Bank of Nigeria (CBN) barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies, warning of “severe regulatory sanctions” and freezing accounts of firms involved.

Click to comment

Leave a Reply

Your email address will not be published.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

ad

You May Also Like

Tech

Dr. Aminu Maida, the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), has addressed consumer concerns on data depletion,...

Tech

MTN Foundation has affirmed its leadership in innovation through CSR initiatives, receiving the “Transformational Solutions in Education & Skills Acquisition Award” at the eighth...

Cryptocurrency

Obinna Iwuno, President of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has urged the Nigerian government to consider a national Bitcoin strategy...

News

Canadian authorities and migrant aid organizations are preparing for a potential increase in asylum-seekers entering from the U.S., following President-elect Donald Trump’s renewed commitment...