Central Bank of Nigeria considers series of options to adopt eNaira
Written by News Room on December 10, 2021
The Central Bank of Nigeria (CBN) is considering a series of options to adopt the eNaira, including the possibility of making it a means of payment.
CBN’ Director, Payments System Management Department, Musa Jimoh, said this at the 2021 Business Luncheon of the Chartered Institute of Taxation of Nigeria (CITN).
According to Jimoh, the CBN is looking at expanding the use cases of the apex bank’s digital currency (CBDC), increasing its adoption and making it more relevant to the payment network.
He, further, said that the pilot phase was unveiled with limited use cases, with a focus on person-to-person and person-to-business transactions.