Nigeria is planning to launch digital currency on Monday
According to the central bank, Nigeria will debut a digital currency, the eNaira, on Monday.
The measure is intended to improve the West African country’s payment system.
Godwin Emefiele, Governor of the Central Bank of Nigeria, has stated that the eNaira will function as a wallet for users to store current funds in their bank accounts.
Nigeria has experienced a surge in the use of cryptocurrencies as individuals seek methods to avoid the collapsing naira currency and combat rising living costs and unemployment in Africa’s most populous country.