Nigeria’s CBDC Transaction Volume Exceeds $9M
- August 20, 2022
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Nigeria’s national digital currency was used to transact a total of 4 billion Nigerian Naira ($9.3 million). This was announced by Godwin Emefiele, the head of the country’s
Nigeria’s national digital currency was used to transact a total of 4 billion Nigerian Naira ($9.3 million). This was announced by Godwin Emefiele, the head of the country’s central bank, writes CoinDesk.
Since CBDC was launched by Nigeria in October 2021, the app has been installed more than 840,000 times. The Central Bank also reported 270,000 active wallets.
Emefiele praised the CBDC’s integration into the economy of a state with a population of more than 200 million. According to The Guardian, about 40% of them do not have a bank account.
Recall that the IMF warned in February about money laundering risks in Nigeria’s digital naira.
in May SEC Nigeria equated cryptocurrencies with securities.
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