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CBN May Launch Digital Currency In December

CBN: 7 Years In Retrospect


Central Bank of Nigeria (CBN) yesterday in Lagos said that its digital currency might be launched by the end of 2021. Mrs Rakiya Mohammed, an information technology specialist with CBN, made the disclosure at an online news briefing at the end of Bankers’ Committee meeting.

According to her, the apex bank has for over two years been exploring the technology and has made tremendous progress.

“Before the end of the year, the CBN 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,” she said.

Mohammed said when eventually operational, the currency would complement cash notes.Bank chief executives at the briefing include Mr Herbart Wigwe, Group Managing Director/Chief Executive Officer (CEO) of Access Bank Plc, and Mr Patrick Akinwuntan, Managing Director/CEO, Ecobank Nigeria.

Others are: Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank; Mr Abubakar Suleiman, Managing Director/CEO, Sterling Bank Plc; Mr Haruna Mustafa, Director, Banking Supervision, CBN, and Mr Osita Nwanisobi, Acting Director, Corporate Communication Department, CBN. (NAN)

Disclaimer: The Post CBN May Launch Digital Currency In December was first Published by Our Correspondenton leadership.ng.

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