{"id":44895,"date":"2021-06-11T15:25:14","date_gmt":"2021-06-11T14:25:14","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-to-introduce-digital-currency-in-nigeria"},"modified":"2021-06-11T16:17:47","modified_gmt":"2021-06-11T15:17:47","slug":"cbn-to-introduce-digital-currency-in-nigeria","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-to-introduce-digital-currency-in-nigeria","title":{"rendered":"CBN to introduce digital currency in Nigeria"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a>. <\/strong><\/span>The Central Bank of Nigeria (CBN) has revealed plans to introduce digital currency before the end of 2021.<\/p>\n<p>Rakiya Mohammed, Director, Information Technology Department of the CBN, disclosed this on Thursday.<\/p>\n<p>Speaking at the end of the 306th Bankers\u2019 Committee Meeting in Lagos, Mohammed said the currency would be accessible to all Nigerians.<\/p>\n<p>Nigerians express divergent views on creation of Oduduwa Republic, Fadaka currency<\/p>\n<p>She said: \u201cBefore the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme in order to be able to provide this kind of currency to the populace.<\/p>\n<p>\u201cThe CBN is exploring the possibility of issuing digital currency.<\/p>\n<p>\u201cIn Nigeria, we\u2019ve the notes and coins, so the CBN Digital Currency is meant to be a form of fiat money. It\u2019s going to complement the coins and notes that we have.<\/p>\n<p>\u201cHaving the CBN Digital Currency that\u2019s backed by the government is good for the digital economy.\u201d<\/p>\n<p>The CBN chief added that the move would boost financial inclusion and deepen access to financial services in Nigeria.<\/p>\n<p>BNL introduces Biafran pounds, warns Cameroon govt<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Central Bank of Nigeria (CBN) has revealed plans to introduce digital currency before the end of 2021. Rakiya Mohammed, Director, Information Technology Department of the CBN, disclosed this on Thursday. Speaking at the end of the 306th Bankers\u2019 Committee Meeting in Lagos, Mohammed said the currency would be accessible to all [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":44894,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,503,254],"class_list":["post-44895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBN to introduce digital currency in Nigeria - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria (CBN) has revealed plans to introduce digital currency before the end of 2021. 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