Central Bank of Nigeria postpones eNaira launch

The Central Bank of Nigeria has postponed the launch of the country’s digital currency- eNaira to pave way for independence day celebrations. According to the Central Bank, the digital currency is expected to save costs of printing physical Naira notes. Pundits expect that the architecture to support the new system will include private blockchain. They expect that if controlled by the Central Bank, a private blockchain will enhance trust in the digital currency. 

Nigeria is among Africa’s emerging alternative currency markets. The government however banned banks from trading in cryptocurrency, but this has not slowed down their use, as people turn to peer to peer networks for trading.