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CBN to introduce digital currency in Nigeria

The Central Bank of Nigeria (CBN) has uncovered designs to present digital currency before the finish of 2021.

Rakiya Mohammed, Director, Information Technology Department of the CBN, uncovered this on Thursday.

Talking toward the finish of the 306th Bankers’ Committee Meeting in Lagos, Mohammed said the currency would be open to all Nigerians.

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CBN to introduce digital currency in Nigeria

Nigerians express different perspectives on formation of Oduduwa Republic, Fadaka currency

She said: “Before the year’s end, the Central Bank will make an extraordinary declaration and conceivably dispatching a pilot conspire to have the option to give this sort of currency to the general population.

“The CBN is investigating the chance of giving digital currency.

“In Nigeria, we’ve the notes and coins, so the CBN Digital Currency is intended to be a type of fiat cash. It will supplement the coins and notes that we have.

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“Having the CBN Digital Currency that is sponsored by the public authority is useful for the digital economy.”

The CBN boss added that the move would help monetary incorporation and extend admittance to monetary administrations in Nigeria.

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