Nigeria introduces digital currency 'e-Naira'... first in africa

▲ Nigerian President Muhammadu Buhari

Nigeria, the largest economy in Africa, has introduced a digital currency system.

According to AFP news agency, Nigeria launched a new digital currency 'e-Naira' in the presence of President Mohammadu Buhari.

"We are the first country in Africa to introduce digital currency to its citizens," Buhari said.

In Nigeria, interest in cryptocurrency has grown among the people who are struggling with the decline in the value of the local currency, the Naira, and the high cost of living and unemployment.

e-Naira is a digital currency issued and controlled by the Central Bank of Nigeria.

According to the American think tank Atlantic Council, five countries, including the Bahamas, have already issued digital currencies by their central banks so far, and 14 countries, including Sweden and South Korea, are in the pilot stage.

In West Africa, where Nigeria belongs, Ghana is also working to issue its own digital currency.

(Photo = Getty Images Korea)