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Nigeria emerges as first African country to launch a CBDC

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The eNaira platform was launched by President Muhammadu Buhari (retd.) on Monday.

The eNaira is the result of the Central Bank of Nigeria’s years of study towards pushing the boundaries of the payments system in order to make financial transactions easier and more seamless for people from all walks of life.

The CBN Governor, Godwin Emefiele, labeled the launch as the first in Africa and one of the first in the world.

“Mr. President, today you make history, yet again, with the launch of the eNaira – the first in Africa and one of the earliest around the world.

“Mr. President, as you make groundbreaking reforms, there has been continuing debate on the true value of the Naira.

“Rather than worry today on the direction of the exchange rate, let us take a step back and analyze how we got here in the first place.”

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