Nigerian governor announces second phase of CBDC project
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Digital currencies
Four foreign banks tap into digital yuan market
Standard Chartered and HSBC enable clients in mainland China to access e-CNY services
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
CBDC features will have financial stability effects – Fed paper
Design choices could cut chance of bank runs and disintermediation, authors say
CBDCs could challenge foundations of monetary economics, says Tombini
BIS Americas chief thinks digital currencies could co-exist with other rapid payment systems
‘Digital pound’ needed as cash successor, says BoE’s Cunliffe
Departing deputy governor says CBDC could be necessary by decade’s end
CBDC opponent is Republican speaker candidate for four hours
Emmer has introduced 'CBDC Anti-Surveillance Act' to lower house
E-krona could boost competition and safety, say Swedish retailers
Riksbank analyses consumers' and retail traders' payment preferences
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine