DIGITAL ECONOMY & TECHNOLOGY
Nigeria Central Bank Selects Fintech to Launch Digital Currency
The company was picked for its “technological competence, efficiency, platform security, interoperability, and implementation experience,” Emefiele said in the statement.
The new digital currency, which will complement bills in circulation, is expected to boost cross-border trade and financial inclusion, make transactions more efficient and improve monetary policy, according to the regulator.
Africa’s biggest economy announced plans to introduce the virtual ledger four months after banning cryptocurrency transactions in February, saying they were a threat to the financial system.
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