THE Central Bank of Nigeria (CBN) had, in February, barred banks and financial institutions from dealing in or facilitating transactions in Cryptocurrencies, warning of “severe regulatory sanctions”.
According to the CBN Governor, Mr. Godwin Emefiele, “The eNaira, therefore, marks a major step forward in the evolution of money, and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible to everyone."
He also mentioned that the eNaira would operate as a wallet against which customers could hold funds in their bank account.
Nigeria has named Barbados-based Bitt Inc as a technical partner in developing the eNaira.