eNaira

Nigeria to Amend eNaira Model to Promote CBDC Use
Nigeria to Amend eNaira Model to Promote CBDC Use
July 26, 2023  |  CBDC

Nigeria’s central bank wants more citizens to use its digital currency. To that end, the bank’s acting governor, Folashodun Adebisi Shonubi, tweeted Wednesday (July 26) that the Central...

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Nigerian Cash Shortage Drives 63% Uptick in Digital Currency Use
Nigerian Cash Shortage Drives 63% Uptick in Digital Currency Use
March 22, 2023  |  CBDC

A cash shortage in Nigeria has made the country’s digital currency much more popular. The value of eNaria transactions has jumped 63% to 22 billion...

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Nigeria’s Cash Crackdown Stands in Contrast to EU’s Pro-Cash Agenda
Nigeria’s Cash Crackdown Stands in Contrast to EU’s Pro-Cash Agenda
January 08, 2023  |  Cash

The Central Bank of Nigeria (CBN) is taking a tough stance on the cash economy. On Monday (Jan. 9), new limits on ATM withdrawals come...

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Nigeria Continues Crackdown on Cash Economy
Nigeria Continues Crackdown on Cash Economy
January 05, 2023  |  Cash

Nigeria will ban cash withdrawals from government accounts from March 1. Modibbo Tukur, the chief executive of the Nigerian Financial Intelligence Unit (NFIU) said the...

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Central Banks Pursue CBDCs in 2023 but Diverge on Design
Central Banks Pursue CBDCs in 2023 but Diverge on Design
January 02, 2023  |  CBDC

Central banks around the world have diverged in the design of CBDCs. As the investigation phase of the European Central Bank’s (ECB) digital euro project...

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Nigeria Cuts ATM Cash Withdrawals and Urges eNaira Use
Nigeria Cuts ATM Cash Withdrawals and Urges eNaira Use
December 06, 2022  |  CBDC

The Central Bank of Nigeria has redefined ATM withdrawal limits to encourage digital currency usage. In a Tuesday (Dec. 6) press release, the CBN said...

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eNaira’s First Anniversary Holds Lessons for CBDC Boosters
eNaira’s First Anniversary Holds Lessons for CBDC Boosters
October 26, 2022  |  CBDC

If there’s one lesson to take away from the first anniversary of Nigeria’s struggling eNaira central bank digital currency (CBDC), it’s that China has shown...

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A Year After Launch, Local Platforms Seem Ready to Embrace eNaira
A Year After Launch, Local Platforms Seem Ready to Embrace eNaira
September 26, 2022  |  CBDC

Nearly a year after its launch in October 2021, Nigeria’s central bank digital currency (CBDC), the eNaira, is beginning to gain traction in the country....

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CBDC Weekly: Treasury Weighs In; ECB Payments Testers
CBDC Weekly: Treasury Weighs In; ECB Payments Testers
September 19, 2022  |  CBDC

While the Treasury Department report on “The Future of Money and Payments” was as carefully neutral as ever about the need for and desirability of...

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