Nigeria’s ENaira CBDC Goes Live

Nigeria’s ENaira CBDC Goes Live
Nigeria’s central bank digital currency (CBDC), the eNaira, is live following an announcement by President Muhammadu Buhari on Monday.The official unveiling of the eNaira – designed to complement Nigeria’s physical currency, not replace it – took place Monday having been announced last week.The eNaira was developed by fintech company Bitt, whose Digital Currency Management System (DCMS) is also behind the East Caribbean CBDC.Two applications for using the CBDC – eNaira speed wallet and eNaira merchant wallet – are available for download from the Google and Apple app stores.The eNaira was originally slated for launch on Oct. 1, but was delayed…