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Nigerian Central Bank insists CBDC use amid Bitcoin bull

As Bitcoin surges have become a routine in the bull season, Nigeria has also become more alert of its CBDC promotions or lack of it. Given the Central Bank of Nigeria’s continued stance on its Bitcoin ban, the country is forced to remain barren to the Bitcoin bull profits. Central Bank’s Director of Corporate Communications Department, Osita Nwanisobi, recently spoke at the Lagos International Trade Fair and appealed to Nigerian citizens to embrace the eNaira, Africa’s first Central Bank Digital Currency (CBDC). The Director emphasized Nigerian CBDC’s qualities, noting that it will enable financial diversity by facilitating an innovative yet regulated and secure financial ecosystem, so people from all walks of life will get an opportunity to hop on to the digital currency wagon and enter Web3.
“The e-Naira is expected to deepen financial inclusion by bringing more people into the financial space, support a resilient payment ecosystem, reduce the cost of processing cash, enabl

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