According to CBN governor Godwin Emefiele, the central bank’s ultimate objective is to ensure the CBDC is available to all Nigerians. enaira digitalcurrency cryptocurrency
by Kucoin found that as many as 33.4 million Nigerian adults are holders of cryptocurrencies.
Even though the CBDC is still less popular than cryptocurrencies, the Central Bank of Nigeria reportedly said it is hopeful of a tenfold increase in the number of e-naira downloads in the next 12 months. According to CBN governor Godwin Emefiele, the central bank’s ultimate objective is to ensure the CBDC is available to all Nigerians.
Just like the naira, the e-naira is expected to be available to all Nigerians and will provide more possibilities to bring the unbanked into the digital economy. To ensure the CBDC becomes available to all Nigerian adults, the CBN revealed that starting on August 22, the e-naira will become available to unbanked adults. Emefiele reportedly said prospective users can access the e-naira by dialing 997 on their mobile phones.
Explaining why the CBN decided to introduce the digital currency, Emefiele said Nigeria had no choice but to embrace emerging technologies. The governor also predicted that the use of cash will “dissipate to zero” while the “use of digital currency will increase to become part of our lives.”Tags in this story
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