Image: ShutterstockCheck out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. The Central Bank Digital Currency (CBDC) project, also known as eNaira, remains steadfast in its commitment, despite recent leadership changes at the Central Bank of Nigeria (CBN). The move comes as the CBN aims to modernise the eNaira platform and align it with global standards.Previously, the eNaira app featured QR codes, but the latest NFC upgrade is expected to increase the CBDC's adoption rates. Limiting CBDC payments exclusively to designated government programs reduces the risk of fraud. However, the CBN remains determined to improve the CBDC project and overcome adoption challenges.Joseph Angaye's pride in Nigeria's digital currency infrastructure reinforces the CBN's commitment to staying at the forefront of digital currency innovation.

Source: Forbes July 24, 2023 16:26 UTC