Nigerian governor announces second phase of CBDC project

Godwin Emefiele
CBN governor Godwin Emefiele
Photo: IMF

The e-naira, Nigeria’s central bank digital currency (CBDC), has reached $9.5 million in transaction volume and 270,000 active wallets, the governor of the Central Bank of Nigeria said.

“The use of cash will dissipate almost to zero, and the use of the digital economy, or digital currency, will increase,” Godwin Emefiele said in a speech on August 18.

“The e-naira has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant

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