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 naira ($47.7 million), the head of the country’s central bank told reporters Wednesday (March 22) “The eNaira has emerged as...
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 into force, a move which comes a few days after the government announced a ban on all cash withdrawals from...
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 move was part of efforts to tackle money laundering, according to a Thursday (Jan. 5) Bloomberg report. “On March 1,...
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 moves into technical considerations, the question of which path it will follow arises. Will the digital euro look like China’s...
July 26, 2023
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 Bank of Nigeria (CBN) would amend its eNaira to “ensure an increase in the volume and activity of wallet holders.” CBN Ag. Governor, #Shonubi says the CBN is amending the current […]
March 22, 2023
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 naira ($47.7 million), the head...
January 05, 2023
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 move was part of efforts...
December 06, 2022
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 that the daily maximum customer...
