After two years of deliberation, the Central Bank of Nigeria (CBN) announced on Thursday, June 10, that it will launch its digital currency before the end of the year.
Rakiya Mohammed, director of information technology at the CBN, made the announcement on Thursday following a bankers committee meeting via zoom.
She claimed that the digital currency would assist the country in meeting its target of 80 percent financial inclusion, which it fell short of in 2020. When it is released, the digital currency will be available to everyone, just as the local currency is today, she said.
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Mohammed stated that the CBN will make an announcement on this matter very soon.
Other topics covered by the bankers’ committee include the introduction of digital cards and the availability of foreign currency in banks.
Herbart Wigwe, group managing director/CEO of Access Bank Plc, Patrick Akinwuntan, managing director/CEO of Ecobank Nigeria, Nneka Onyeali-Ikpe, managing director/CEO of Fidelity Bank, Abubakar Suleiman, managing director/CEO of Sterling Bank Plc, Haruna Mustafa, director, banking supervision, CBN.