The Central Bank of Nigeria (CBN) has announced that the state-owned digital currency, eNaira, is incapable of posing a threat to the country’s financial and economic stability.
The CBN s Director of Corporate Communications, Isa AbdulMumin, is worried about local media expressing concern over the state-owned digital currency. AbdulMumin believes the state-owned stablecloin complements the country’s payment system without trying to replace or compete with incumbent banks.
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“Usually the central bank does not comment on the news, but now we have to make a clarification to avoid misunderstandings. The structure of eNaira continues to evolve and undergo changes to improve the user experience