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CBN SET TO LAUNCH ITS DIGITAL CURRENCY BY DECEMBER

The Central Bank of Nigeria (CBN) has announced its plan to launch its digital currency on or before December, 2021.

CBN Director of Information Technology, Mrs Rakiya Mohammed disclosed this on Thursday, during a virtual media briefing at the end of the bankers committee meeting.

Recall that earlier this year, the Central Bank of Nigeria had issued a cryptocurrency regulation which prohibited financial institutions from facilitating cryptocurrency transactions as well as ordered the closure of accounts related to cryptocurrency trading.

According to CBN Director, the digital currency which has been said would help the country to achieve its financial target, will be made available to all Nigerians just the way the local fiat is accessible to everyone. 

Meanwhile, she maintained that cryptocurrencies such as Bitcoin, Ethereum and the likes are not under the control of the Central Bank of Nigeria.

 

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
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Ethereum1,911.3 1.53 % 15.06 % 24.09 %
Tether0.9993 0.18 % 0.19 % 0.01 %
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