Every few years, the crypto community is often shocked by the participation of national financial institutions in the world of crypto. While discussions on central bank crypto assets have been debated for several years, some countries have taken bold steps by publishing them. Nigeria is among the latest countries to express readiness to introduce CBDC crypto, eNaira.
In a recent press release featuring the latest statement from the official website of the Central Bank of Nigeria, Director of Corporate Communications, Osita Nwanisobi, revealed that eNaira will be declared an official one and launched today, 25 October.
eNaira has a slogan which is, ‘With Naira, more opportunities can be created’. The inauguration will be launched at the Dewan Negara, Abuja.
The launch of eNaira is the culmination of several years of research by the Central Bank of Nigeria in advancing the boundaries of payment systems to make financial transactions easier and smoother for every walk of life.
With this, Nigeria became one of the first countries in the world to launch its own central bank crypto assets.
One of the things that is often misunderstood about CBDC is that it relates to other crypto assets. However, the CBDC can be summarized as a digital version of the fiat currency over which the central bank has full control. There are authoritative bodies that govern through policies and regulations.
The CBDC according to those who support it thinks it can be considered a significant step forward in terms of technological development and can allay some of the growing concerns in the country.
For example, the launch of eNaira can also be seen as an effort by the government to seize the future potential that can be presented through crypto.
