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Nigeria’s Central Bank (CBN) has postponed the official launch of its Digital Currency, eNaira due to their Independence celebration.

The deferral of the unveiling, slated for today, October 1, 2021, is due to activities lined up to commemorate the country’s 61st Independence Anniversary, says Mr. Osita Nwanisobi, Apex Bank’s Director of Communications. He further explained in a statement that the CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria.

The introduction of the eNaira will ease peer-to-peer transfer to another person’s eNaira wallet, as well as, payment for goods and services at selected merchants, once launched. It will also help reduce the use of cash and ensure stability of the Nigerian economy.

Mr. Nwasinobi said that, the CBN and other partners are working to ensure a seamless process that will be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population. Financial institutions in Nigeria remained key actors and are critical part of Nigeria’s Central Bank Digital Currency (CBDC).Meanwhile, no new date has been announced for the launch yet.

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