CBN To Introduce Digital Currency In Nigeria

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(CBN) will soon introduce digital currency country.

According CBN, it is introduce digital currency before end of 2021.

Rakiya Mohammed, , Information Technology Department of the CBN, disclosed this .

Speaking at the end of the 306th Bankers’ Committee Meeting Lagos, Mohammed said the currency would be accessible all Nigerians.

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She said: “Before the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme order to be able to this kind of currency to the populace.

“The CBN is exploring the possibility of issuing digital currency.

“In Nigeria, we’ve the notes and coins, so the CBN Digital Currency is meant to be a form of fiat money. It’s going to complement the coins and notes we have.

“Having the CBN Digital Currency ’s backed by the government is good for the .”

The CBN chief added the move would boost financial inclusion and deepen access to financial services in Nigeria.