Central Bank of Nigeria (CBN) Postponed the Launch of E-naira

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It is no news that the Nigerian citizens especially the youths have been awaiting the launch of their first cryptocurrency, e-Naira, that was proposed to be launched on 1st of October.

This date incidentally is the nation's independence day. What a good way to start a new era in the history of the nation's finances one would have thought. Well, the launch date has been postponed till further notice.
Screenshot_20211003-234919.pngsource

The reason for the postponement was rumored in a news update by Nairametric -a local newsletter stating that an unanticipated surge in visits on the website of the Central Bank’s eNaira initiative was the reason behind the postponement of the launch of the apex bank’s digital currency dubbed “eNaira.”

The CBN was prepared to launch the eNaira on the 1st of October 2021, but
the eNaira website recorded about 480,000 hits the first day it went live. The visits grew to over 1.7 million the next day and has averaged over 2.8 million hits daily since then. Apart from attracting hits, the website has also recorded a surge in usage with the time spent on the site generating content of over 80 GB daily.
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If this eventually happens, CBN’s digital currency initiative will make Nigeria the first country in Africa to launch a digital currency.



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6 comments
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Nigeria things don't go normal. They may forget the lunch and use another thing to cover up, that's Nigeria way.
Thanks for the information because I am trying to write on it but have not gotten enough information.

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(Edited)

This E-naira thing may or may not work. The May not is more probable than the may simply because, E-naira is just normal naira. And guess what? From an article i read, it's your money being controlled by the government. No youth wants that. I rather not trust this government with my money.
You can also read the article to understand more.

https://peakd.com/hive-167922/@readthisplease/nigerian-cbdc-the-government-approved-it-but-will-the-people-care-to-use-it

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(Edited)

If this yet another plot to disable the robust use of cryptocurrency by the Nigerian youth then I must commend their effort. Just that it wont fly!

Block chain, decentralization, smart contract, cryptocurreny...have come to stay! This is the new normal. The real change.

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