CBN to launch digital currency

Obinwannem News CBN to launch digital currency

Governor of the Central Bank of Nigeria, Godwin Emeifele, has revealed plans to launch a digital (Nigerian) currency, following what other countries have done not to be left out in the digital world.

This was disclosed yesterday [Tuesday]; Emeifele, during the 279th MPR, meeting held today, in Abuja.

He said, “We have committed in the CBN, and can assure everybody, that digital currency, will come to life even in Nigeria.

“We have carried out our investigation, and we found out that a substantial percentage of our people are getting involved in the cryptocurrency, which is not the best. Don’t get me wrong, some may be legitimate, but most are illegitimate.

“Under cryptocurrency and Bitcoin, Nigeria comes 2nd, while on the global side of the economy, Nigeria comes 27th. We are still conducting our investigation, and we will make our data available”.

Similarly, China is expected to roll out the e-yaun, its digital currency, at scale, later in the year. The United States has also started work on e-dollar.

Ijeoma Njoku reporting, Obinwannem News | May 26, 2021