Nigeria will try to relaunch digital currency eNairaIn late 2021, the Central Bank of Nigeria introduced its national digital currency in test mode. However, the rate of CBDC adoption remains extremely slow, despite the fact that the authorities of this African state are taking measures to encourage people and businesses to switch to eNaira token as soon as possible.
Bloomberg reported that the Central Bank of Nigeria will try to restart its CBDC project. The U.S. blockchain company R3 has been selected as a partner.
It will help the Nigerian authorities to create special software for CBDC. With its help, the Central Bank will be able to control all movements of funds in digital currency and ensure the security of transactions.
Bloomberg notes that Nigeria became the first African country to issue CBDC. During the year, the amount of transactions with tokens amounted to only $10 million.
The regulator's initial partner was Bitt Inc. According to a representative of the company, Nigeria expects to digitize the payment infrastructure and provide CBDC with additional options.
