Last week, the Central Bank of Nigeria announced the introduction of the eNaira as a payment option for inbound remittances in an effort to help increase the adoption of the central bank digital currency (CBDC). The move comes after the ousting of the central bank’s Governor earlier this month, which cast doubts over the future of the CBDC initiative.
“The Central Bank of Nigeria (CBN), in its efforts to liberalize the payout of diaspora remittances and promote the adoption of the eNaira, hereby announces the introduction of the eNaira as a payment option to recipients of diaspora remittance,” the communication read.
Nonetheless, the central bank has noted that this option remains entirely voluntary and that the eNaira will continue to run alongside the existing dollar payout system.
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