By Q4 2022, Central Bank of Nigeria will Exchange Dollars Directly with Nigerians and Companies via e-Naira Digital Currency

Tekedia InstituteĀ  believes that by Q4 2022, the Central Bank of Nigeria will sell forex (US dollars, GBP, Euro, etc) directly to Nigerians and companies via the e-Naira digital currency. Our expectation is that once e-Naira is stabilized, Nigerians will have quasi-accounts with CBN with all information populated from their BVNs (bank verification numbers). E-Naira, a central bank digital currency (CBDC), is virtual money backed and issued by central banks. As cryptocurrencies and stablecoins have become more popular, the world’s central banks have realized that they need to provide an alternativeā€”or let the future of money pass them by. Nigeria … Continue reading By Q4 2022, Central Bank of Nigeria will Exchange Dollars Directly with Nigerians and Companies via e-Naira Digital Currency