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Nigeria Plans Salvage Job For Its eNaira Digital Currency Flop
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Nigeria Plans Salvage Job For Its eNaira Digital Currency Flop
Nearly five years after its high-profile launch as Africa’s first central bank digital currency, Nigeria’s eNaira is being quietly repurposed. The Central Bank of Nigeria (CBN) has acknowledged in a new strategy document that adoption of the Central Bank Digital Currency (CBDC) has been slow, and is now repositioning it away from a consumer-facing payment tool toward a backend infrastructure for government disbursements and cross-border settleme…
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