On Monday, Nigeria will launch its ENaira digital currency

On Monday, Nigeria will launch its ENaira digital currency

According to Bloomberg, the Central Bank of Nigeria (CBN) will introduce its digital currency, the eNaira, on Monday

CBN said in a statement that the eNaira will make financial transactions easier and smooth for all layers of society.

On Monday, Nigeria will launch its ENaira digital currency
Image source: facebook.com/myenaira

The launch was originally scheduled for Oct. 1 to 4, but was postponed in honor of Nigeria’s 61st anniversary of independence.

Nigerian financial regulators have struggled to keep up with the growing popularity of Bitcoin in the country. Nigeria prohibited cryptocurrency transactions in the banking sector in February and announced plans to establish the eNaira four months later.

According to the CBN website, the eNaira will be accompanied by a CBN-approved wallet that users may either link to their bank accounts or pay as they go with a prepayment option.

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