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On Nigeria's Failing CBDC and Its Hard Lesson
Manage episode 365462438 series 3474370
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This story was originally published on HackerNoon at: https://hackernoon.com/on-nigerias-failing-cbdc-and-its-hard-lesson.
Nigeria’s CBDC, the e-Naira, whose launch gulped millions of Naira from the nation’s coffer is in a free fall two years after it made history.
Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #cryptocurrency, #cbdcs, #business, #digital-currency, #central-bank-digital-currency, #finance, #regulation, #centralization, and more.
This story was written by: @penworth. Learn more about this writer by checking @penworth's about page, and for more stories, please visit hackernoon.com.
Nigeria’s CBDC, the e-Naira, whose launch gulped millions of Naira from the nation’s coffer is in a free fall two years after it made history as Africa’s first CBDC. The e-Naira, launched in October 2021, is Nigeria’s apex bank’s policy the CBN to digitise the Naira but its failure underpins the thesis that Cash is King in Africa’s most populous nation.
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