Friday, December 8, 2023

Nigeria’s competitiveness in the increasingly digital world is ensured by CBDC.

The Central Bank of Nigeria’s governor has been found to insist that the e-Naira which was introduced recently, could boost trade. He also added that this digital currency could increase investment activities as well. This digital currency, according to the governor, is necessary for the future. This is as it ensured that Nigeria stays competitive as the economy of the world turns more and more digital.

CBDC and Digital Economy

Godwin Emefiele, the governor of the Central Bank of Nigeria, recently spoke out about the country’s digital currency. He says that the e-Naira will enable Nigeria to stay competitive in a world that’s becoming more digital by the day. These remarks from him are the latest among a slew of such remarks from government officials or representatives from the CBDC.

They are trying to ensure that the Nigerian public, who are skeptical about the new digital currency, can put their minds to ease. When the CBDC was launched in the month of October, 2021, Muhammadu Buhari, the President of the country, also commented on the e-Naira. He had said that the e-Naira would help the Nigerian GDP grow by around $29 billion within the next ten years.

Aside from providing statements that are reassuring, the Central Bank of Nigeria has also made use of its platforms to actively promote their digital currency. The hackathon, which is due to last between June 27th and July 21st, is one such platform being used to promote the CBDC. The Central Bank of Nigeria has also encouraged the people of the country try to participate in this hackathon. They added that the event was useful when it came to enabling innovators fund solutions for the digital currency.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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