Nigeria asks for private company expertise to enhance e-Naira digital currency

Nigeria seeks private company expertise to boost e-Naira digital currency adoption in a country where only 0.5% of the population uses it daily. The government aims to enhance the programmability features of the digital currency with the help of tech companies to ultimately gain full control and understanding of the required technology.

Nigeria is the first African country that introduced the digital version of its national currency. The e-Naira currency has been in use for more than a year now, but still lacks mass adoption. In a country of 200 million people, only 0.5% is using e-Naira on a daily basis. The Nigerian government is already using some of the programmability features of digital money, and it’s looking now to enhance them. According to reports from Bloomberg, the Nigerian government is seeking help from the US private tech companies to improve technology behind the virtual currency. Final idea is that at the end of this process, the Central bank of Nigeria achieves full custody and know-how on the technology needed to run a virtual currency environment.  

The Nigerian government confirmed that they are looking at: ‘developing additional features and enhancements.”