The Central Bank of Nigeria is looking to launch its own central bank digital currency (CBDC) by the end of the year.
Rakiya Mohammed, an information technology (IT) specialist at the Central Bank of Nigeria (CBN), disclosed that the bank has been exploring the concept of a central bank digital currency (CBDC) for the last two years and a ‘special announcement’ shall come soon.
Before the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme in order to be able to provide this kind of currency to the populace.
The cryptocurrency world is undergoing a period of rapid progression as governments and companies globally grapple with how they can leverage the technology for maximum returns.
Read more: https://www.businessinsider.in/cryptocurrency/news/nigeria-is-the-latest-country-to-embrace-cbdc-intends-to-roll-out-its-digital-currency-soon/articleshow/83506710.cms