What is Nigeria's CBDC?
Nigeria's CBDC (Central Bank Digital Currency) also known as the eNaira is a digital version of the Nigerian currency, the eNaira, issued and backed by the Central Bank of Nigeria (CBN).
What is the purpose of Nigeria's CBDC?
The purpose of Nigeria's CBDC is to modernize Nigeria's payment system, improve financial inclusion, reduce transaction costs, and enhance the efficiency of monetary policy.
What is the difference between eNaira and other cryptocurrencies such as Bitcoin?
eNaira is centralized and issued and backed by the CBN, while Bitcoin and other cryptocurrencies are decentralized and not backed by any government or central authority.
When was eNaira launched?
eNaira, also known as the digital yuan, was launched in pilot trials in several cities across Nigeria on October 25th, 2021, and is currently being rolled out more widely.
What is eNaira?
eNaira is a digital currency launched by the Central Bank of Nigeria (CBN) to provide a secure, fast and efficient way for Nigerians to make transactions and pay for goods and services using their mobile phones and other digital devices.