Nigeria's central bank digital currency, introduced to modernize the financial system but facing low adoption.
Nigeria’s Rise as a Blockchain Powerhouse
Nigeria ranks among the top ten globally for cryptocurrency adoption, with $59 billion in cryptocurrency value received between July 2023 and June 2024. The youthful demographic, with over 60% of the population under 25, is a key driver of blockchain adoption.
“Regulated blockchain is the next step of evolution in financial services” — Zone’s Obi Emetarom
Mohammed Idris published an opinion piece on Cointelegraph advocating for blockchain technology in Nigeria. Nigeria launched the eNaira, Africa's first Central Bank Digital Currency, in 2021.
CBN introduces new workflow and Naira payment solution to boost efficiency
The CBN launched DocFlow, a digital document management system to replace paper-heavy processes. Governor Olayemi Cardoso introduced the new digital solutions at the bank's headquarters in Abuja.
