The Central Bank of Nigeria is set to begin Central Bank Digital currency , CBDC in the country.
CBN has sent a detailed document regarding central bank digital currency (CBDC) guidance to financial institutions in the country. The document entails the testing and implementation of the e-Naira.
Some of the guidelines include a non-interest-bearing status and a transaction limits based on a total value.
According to CBN, the CBDC will likely be implemented by the end of 2021.
CENTRAL BANK TO BEGIN E- NAIRA CBDC FOR BANKS
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