Nigeria officially launched the central bank digital currency "e naira" on October 25, local time, becoming the first African country to officially use digital currency.
Nigerian President Buhari said at the launching ceremony of the "e Naira" held in the capital Abuja that day, in recent years, with the rapid development of the digital economy, the use of cash in global business activities and payment transactions has decreased, and digital currency is the general trend. .
The Nigerian government began to study the issuance of digital currency in 2017. The launch of "e naira" made Nigeria the first African country to officially use digital currency and one of the first countries and regions in the world to issue digital currency.
Buhari said that the launch of "e Naira" can help cross-border trade, improve the level of inclusive finance, and improve the efficiency of financial policy implementation, thereby promoting national economic development.
Some studies predict that digital currency and related blockchain technology are expected to increase Nigeria's GDP by 29 billion U.S. dollars in the next 10 years.
The governor of the Bank of Nigeria Godwin Emefila said that the purpose of the government's launch of digital currency is to supplement and strengthen the country's payment ecology and financial architecture under the new situation, and to maintain the integrity and stability of the payment system.
Currently, the Central Bank of Nepal has issued 200 million naira (approximately US$480,000) of digital currency to financial institutions.
(Producing Zhou Jing)
Editor in charge: [Li Ji]