Nigeria’s major bank has announced the postponement of the launch of the country’s central bank digital currency project, eNaira. According to a local media ReportThe Bank noted the important events that were organized in preparation for the celebration of the 61st anniversary of the country’s independence.
Nigeria suspends launch of “eNaira”
The Director of Communications at the Central Bank of Nigeria (CBN), Osita Nwasinobi, revealed on Thursday that the suspension of the launch of the CBDC project was out of respect for the current mood of “national rededication to the dream of one Nigeria.”
Ahead of the expected launch of the Central Bank of Nigeria’s digital currency, known as eNaira, the spokesperson for the Central Bank of Nigeria, Mr. Osita Nwanisobi, said the unveiling, planned for October 1, 2021, has now been postponed due to other major activities lined up. To celebrate the 61st anniversary of the country’s independence.
A famous Nigerian activist, commonly referred to as Sega Link, advised The lead bank should not “rush” to launch the project, saying “it must be well planned and properly planned.”
Interestingly, the postponement comes a day after a technology company, ENaira Payment Solutions Limited, filed a lawsuit against the bank over the name “eNaira”, claiming it belonged to its trademark. The company, through its team of lawyers, is calling on the Central Bank of Canada to drop the “eNaira” name.
No further information was provided about the launch date of the project.
Other countries are continuing the CBDC project
While Nigeria’s launch of its CBDC project is pending, other countries on the continent and the rest of the world are ramping up their plans for their national digital currency.
As of press time, China leads the group with its digital yuan project. The Asian country has conducted a number of tests with the currency.
Aside from China, other countries such as Russia, Japan, Barbados and South Korea have also come forward in their pursuit of CBD. In Africa, Ghana, Tunisia and Madagascar, I also continued to work on their CBDC project.
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