BULLS: CBN unveils eNaira

BULLS: CBN unveils eNaira
The Central Bank of Nigeria (CBN) is set to launch eNaira also known as Central Bank Digital Currency (CBDC), as a digital version of naira. The launch is expected to take place in October 1st, 2021 in commemoration of the nation’s independence.
Ahead of this development, there are projections that eNaira could play a role in stabilizing the naira while other analysts wonder why the apex bank banned commercial banks from engaging in crytocurrency trading only to introduce its digital currency months later.

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