Central Financial institution of Nigeria: eNaira no risk to monetary stability

The Central Financial institution of Nigeria (CBN) needed to publicly insist that its eNaira venture — one of many world’s first working central financial institution digital currencies (CBDC) — doesn’t threaten the nation’s monetary stability.

The Oct. 9 press launch from the CBN got here in response to “information objects on some media platforms,” suggesting that the eNaira threatens Nigeria’s monetary stability. Some information items, equivalent to one revealed in a day by day Nigerian newspaper, Punch, level to the CBN’s not too long ago launched report titled, “Economics of Digital Currencies: A E book of Readings.”

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