Nigeria's CBN has pushed to launch Nigeria's Digital Currency, dubbed "e-Naira" on October 1st; Nigeria's Independence Day. In this video, I attempt to explain every aspect of the e-Naira, why it's being created and who Nigeria is partnering with to make it.
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Table of Content:
0:00 - Introduction
1:09 - What is the e-Naira
2:06 - Why did Central Bank Propose this?
4:48 - Who is making the e-Naira?
7:26 - What is the e-Naira process?
13:21 - Advantages
14:55 - Concerns / Disadvantages
17:27 - Conclusion
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Sources:
About Bitt: https://nairametrics.com/2021/09/01/what-you-should-know-about-bitt-inc-cbns-digital-currency-partner/
Nigeria CBN e-Naira Guidelines: https://nairametrics.com/2021/08/29/cbn-drafts-guidelines-to-nigerian-banks-on-e-naira/
e-Naira Limits: https://nairametrics.com/2021/08/30/e-naira-cbn-sets-n50000-maximum-transfer-limits-for-non-account-holders/
CBN Partner with Bitt: https://nairametrics.com/2021/08/31/exclusive-digital-currency-partner-bitt-inc-to-register-in-nigeria-cbn-to-own-stake/
World Bank Forex: https://www.reuters.com/article/nigeria-economy-worldbank-forex-idUSL2N2NX0VD
CBN Guidelines: https://news.bitcoin.com/nigerian-central-bank-reveals-cbdc-guidelines-announces-plan-to-launch-e-naira-wallet/
Wallet Tiers: https://cryptotvplus.com/2021/08/central-bank-of-nigeria-to-launch-speed-wallet-for-the-e-naira/
CBN Letter Selecting Bitt Inc: https://www.cbn.gov.ng/Out/2021/CCD/CBN%20Press%20Release%20(CBDC)%2030082021.pdf
CBN’s Monetary Policy Director on Arise: https://youtu.be/Md3KqvdMNg0
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