Many Nigerians are optimistic as Africa’s largest economy gears up to launch the continent’s first central bank-backed digital currency, the eNaira. Authorities hope to tap into the popularity of cryptocurrency so it can better monitor digital currency transactions, curb black market trading in the paper naira and also help integrate millions of Nigerians into banking. But critics say the digital currency will also give Nigeria’s central bank more control. The launch of the Central Bank of Nigeria (CBN) digital currency, or the eNaira, was initially scheduled for October 1 as part of activities to mark Nigeria’s Independence Day – but was postponed by authorities. The CBN’s communications director, Osita Nwanisobi, did not disclose the new launch date in a statement released on the bank’s social media handle. But local reports say the eNaira website recorded more than one million hits in the hours ahead of the initial launch – what blockchain experts like Janet Kaatyo say is a welcome development.
SOURCE: VOA
More Stories
Lebo M on 25 Years of The Lion King on Broadway
Mountain House Makes the Most of Its Spectacular Site
A Tribute to Black Artists Could Signal a Change for Museums
7 Young African Women Dominating the Turntables
Meet the Founders of Kitchens of Africa
Seychelles Shines Again at the World Travel Awards
Planning to Honeymoon in the African Bush?
For the Ultimate Trip, these are the Best Hotels in Marrakech
Ghana is also a Great Destination for Keen Walkers
17 Regional Countries have Increased their Travel and Tourism Development Index
What are the Benefits and Costs of Scaling-up the Commercial Production of Bioenergy in Africa?
Faculty of Harvard University and Africa.com Offer Online Course for Entrepreneurs in Food Systems