Nigeria CBDC uptake ‘disappointingly low’ – paper


An International Monetary Fund working paper concludes Nigeria’s central bank digital currency (CBDC) has had “disappointingly low” acceptance among the public.

The Central Bank of Nigeria launched the e-naira, Africa’s first central bank digital currency, on October 25, 2021. The CBN initially minted 500 million naira ($1.2 million) of the new currency. The e-naira uses distributed ledger technology (DLT).

The paper, Nigeria’s e-naira, one year after by Jookyung Ree, reports the e-naira

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 or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account