NewsNigeria to Launch Its Own Digital Currency in October

Nigeria to Launch Its Own Digital Currency in October

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Nigeria plans to launch its own cryptocurrency, the so-called “e-naira,” in October, the governor of the country’s central bank said on Sunday.

More specifically the governor of Nigeria’s Central Bank, Godwin Edefiele, said the “e-naira” would act as a wallet in which customers can keep existing money in their bank account.

He continued by saying “We believe transactions will be cheaper and more efficient as there will be less conflict.”

Not too long ago, – last February – Nigeria prevented its banks and financial institutions from trading or facilitating cryptocurrency transactions.

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