On October 25, 2021, the President of Nigeria, Muhammadu Buhari is planning publicly to introduce the country’s central bank digital currencies (CBDC). 
<h2>CBDC Gets High-Level Support From The President of Nigeria</h2>
According to a statement <a href="https://www.cbn.gov.ng/Out/2021/CCD/eNaira%20Launch%20Press%20release%20%20231021.pdf" target="_blank" rel="nofollow noopener">issued </a>by the Central Bank of Nigeria (<a href="https://www.cryptoknowmics.com/news/court-in-nigeria-creates-space-for-the-cbn-to-launch-enaira/">CBN</a>), the ceremonial celebration commemorating the introduction of the e-naira would take place at Buhari's official house. 

Following the postponement of the original launch due to various causes, the CBN argues in the statement that it has done enough to prepare for the launch this time.

According to the news release:
Following a series of engagements with relevant stakeholders including the banking community, fintech operators, merchants, and indeed, a cross-section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.
The CBN argues that the CBDC will be available to everyone, describing the e-naira debut as a significant step forward in the evolution of money.
<h2>The CBN Will Address Any Issues That Arise During Implementation As Soon As Possible.</h2>
Meanwhile, the CBN has already put in place a mechanism to resolve any issues that may come from the pilot implementation, although this would be one of the first CBDCs.

At the same time, the central bank said it will continue to collaborate with key partners to guarantee a smooth process that benefits all users, including those in rural regions and the unbanked.
<h2>The eNaira Will Make “Financial Transactions Easier and Seamless for Every Stratum of the Society”</h2>
The <a href="https://www.cryptoknowmics.com/news/court-in-nigeria-creates-space-for-the-cbn-to-launch-enaira/">eNaira,</a> which took many years to build, would "make financial transactions easier and smooth for every stratum of society," according to an emailed statement from the Central Bank of Nigeria on Saturday. 

The digital naira will be used in addition to the real naira.

Bitt Inc. was chosen by the Abuja-based bank in August as a technical partner to assist in the creation of the digital currency. 

It revealed intentions to implement the virtual ledger four months after prohibiting cryptocurrency transactions in February, seeing them as a danger to the financial system.

President Muhammadu Buhari of Nigeria Will Introduce the Country's CBDC

On October 25, 2021, the President of Nigeria, Muhammadu Buhari is planning publicly to introduce the country’s central bank digital currencies (CBDC). 

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

President Muhammadu Buhari of Nigeria Will Introduce the Country's CBDC

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