Why CBN postpones official launch of e-Naira digital currency

*The Central Bank of Nigeria says decision to postpone the unveiling of e-Naira digital currency Friday, October 1 was to avoid any distractions from the country’s 61st Independence Day celebration

Isola Moses | ConsumerConnect

Though with much expectation of the historic event earlier slated for Friday, October 1, 2021, the Central Bank of Nigeria (CBN) has disclosed reason it postponed the official inauguration of e-Naira, its digital currency.

ConsumerConnect learnt Mr. Osita Nwanisobi, Director of Corporate Communications Department at CBN, noted that the decision to postpone the unveiling of the e-Naira, earlier scheduled for Friday, was made so as to avoid any distractions from the country’s 61st Independence Day celebration.

The CBN, however, has assured consumers, that the Bankers’ Bank and other partners are working to ensure a seamless process for the benefit of all of Nigerians.

No new date has been announced for the launch, according to report.

Recall the Central Bank of Nigeria, in June this year had announced plans to launch a digital currency christened ‘e-Naira’ by October 2021, as it joins 81 countries strongly considering digital currencies across the world.

Mr. Gidwin Emefiele, Governor of CBN, had said that the Bank’s decision followed two years of contemplation on digital currency technology.

He stated it is the CBN’s intention to achieve 80 percent financial inclusion by the end of 2021 is another motivation to launch digital money in the Nigerian economy.