Governor of the Central Bank of Nigeria: the eve of Africa's first CBDC

Financial Institutions of Nigeria (CBN) chairman Godwin Emefiele said the numerical results would be released "in a few days". The digital currency, also known as e-nira, will be Africa's first digital currency, according to the president.

Nigeria to announce CBDC on Sunday

Emefeller's approval for Nigeria came after CBN postponed e-nira's release to an unknown date.

Emefeller said on Thursday that the e-nira CBDC would make Nigeria "one of the first countries in Africa to adopt a digitalization of the national currency".

As previously reported by Bitcoin.com News, the central bank has argued that the launch of the e-nira has been delayed because it could interfere with domestic markets.

However, some believe that Nigerian society has challenged the legality of the central bank.

Since then, a Nigerian court has ruled in favor of CBN, which paved the way for the release of digital benefits that will become one of Africa's first digital advantages.

According to CBN, when these digital benefits finally begin, it should lead to greater financial integration and make converting money cheaper and faster.

The promulgation of CBDCs will also allow central banks to regulate financial management.

On September 27, 12 days ago, on the Nigerian official website e-Naira, it was announced that financial transactions would be "easy" with the slogan "One age, potentially high again".

The site also offers e-nira wallets that you can download from Google Play on Android and the Apple App Store on iOS devices.