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Business Daily: Nigeria's eNaira: Africa's first digital currency

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Nigeria's eNaira: Africa's first digital currency

05/11/2021 GMT

BBC World Service - Business Daily, Nigeria's eNaira: Africa's first digital currency

What is the eNaira and how are Nigerians reacting to its launch last month?

Central Banks around the world are introducing digital currencies and last month Nigeria became the first African country to launch one - the eNaira. But what is a digital currency and how are Nigerians reacting to theirs? We hear from people on the streets of Abuja. Tamasin Ford speaks to Rakiya Mohammed, director of information security at the Central Bank of Nigeria. Chinwe Egwim, chief economist at Coronation Merchant Bank in Lagos, explains why the eNaira has been introduced and the benefits it could have. Digital currency expert Josh Lipsky of the Atlantic Council puts the launch of the eNaira in the context of the others that are springing up all over the globe. 

Producer: Benjie Guy. 

(Picture: the eNaira mobile phone app. Credit: enaira.gov.ng)

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