The Nigerian central bank has said it is amending the model of its central bank digital currency and is hopeful that such an exercise will result in “an increase in the volume and activity of wallet holders.” According to the acting governor, the central bank is also working towards making the forex market more “efficient and effective in the face of high demand for foreign exchange.”
CBDC Has Not Lived Up to Hype
The acting governor of the Nigerian central bank, Folashodun Shonubi, said on July 26 that his institution is working on amending the model of its digital currency. The objective of this exercise is “to ensure an increase in the volume and activity of wallet holders.” Shonubi, who is standing in for the suspended governor Godwin Emefiele, made the comments when the central bank’s monetary policy committee met for the second time this week.
CBN Ag. Governor, #Shonubi says the CBN is amending the current model of the Central Bank Digital Currency (CBDC), the eNair
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