CBN to launch digital currency on Independence Day
The Central Bank of Nigeria (CBN) has announced that it will be launching its own digital currency on Independence day, October 1, 2021.
According to Nairametrics, CBN’s IT Director, Rakiya Mohammed at the conclusion of the 306th Banker’s Committee meeting, disclosed that the apex bank has been conducting research in regards to digital currencies since 2017 and may conduct a proof of concept before the end of this year.
The project which is tagged Project GIANT will use the Hyperledger Fabric Blockchain. Nigeria’s central bank further revealed that the importance of eNaira includes Macro management and growth, cross border trade facilitation, financial inclusion, monetary policy effectiveness, improved payment efficiency, revenue tax collection, remittance improvement, and targeted social intervention.
that is good news……. but hoped it has a great impact on our economy…….