e-Naira Saga: A lot has happened as regards finance innovations and policies in 2021. From the CBN’s subtle attacks on cryptocurrency to the BDC conundrum and to the creation and launch of Nigeria’s digital currency (e-naira).
Following news from the CBN that the e-naira was set to be launched on the 1st of October 2021, many Nigerians were on the edge of their seats looking forward to how the whole show was going to play out and the impact this new digital currency would have on Nigeria’s economy.
However, as it turned out, the governor of the Central Bank of Nigeria, announced that the launch of the e-naira has been postponed. This makes us wonder are they dumb, clueless or way beyond their league: The CBN and E-naira saga.
Nigeria has the largest economy in Africa and they were set to follow China and other nations in the use of digital currencies. However, the launch has been delayed and this leaves a very sour taste in the mouth.
WHAT WAS SAID
The federal government of Nigeria are doing impressively well in terms of technological advancements and have decided to include cryptocurrency and virtual money in their latest scheme of things.
There’s been somewhat of a delay in these proceedings and one can even ask if they are dumb, clueless or way beyond their league: The CBN and E-naira saga.
The official Facebook page of the CBN cited the commemoration of the 61st anniversary of Nigeria as the reason for the delay.
He stated “The planned unveiling on October 1, 2021, has now been deferred due to other key activities lined up to commemorate the country’s 61st Independence Anniversary,”
“The CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer.”
It’s even more shocking that no new date was announced for the launching of Nigeria’s digital currency. And to be honest, their excuse or reason wasn’t good enough.
What do you think?
With all the hiccups they’ve experienced and their obvious lack of transparency, should Nigerians actively engage their resources and businesses into the use of e-naira when/if it eventually gets launched?
And kindly let us know what you think about the delay and the e-naira saga in the comment section.
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