eNaira transactions surge amidst cash shortage, CBN says
The Central Bank of Nigeria has disclosed that eNaira transactions have experienced growth amidst the ongoing cash crunch in the country. The value of transactions has surged to 63%.
eNaira
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CBN to introduce USSD code to boost eNaira
The Central Bank of Nigeria will introduce an Unstructured Supplementary (USSD) code to improve the Central Bank Digital Currency (CBDC).
Explainer—Was Executive Order No. 5 breached in awarding the eNaira to Bitt Inc?
The EO5 directed that foreign companies with demonstrated and verifiable plans for indigenous capacity development can be awarded contracts when local professionals are lacking expertise
CBN's new digital coin to run on closed blockchain
The CBN's new digital currency will run on Hyperledger Fabric Blockchain, a permissioned ledger that grants the apex regulator exclusivity and altering power.
What CBN’s digital currency could mean—transparency vs surveillance
While there isn’t yet information on how the CBN’s digital currency will work, it is not a new phenomenon. Central Bank Digital Currencies (CBDC) are a growing trend worldwide.