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CBN Announces Oct 1 to Launch Own Digital Currency

Godwin Emefiele2
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The Central Bank of Nigeria has said that it will launch the pilot scheme of its digital currency on October 1st, 2021, Applesbite Magazine has learnt.

The CBN with its stakeholders outlined its digital currency initiative via a private webinar held on Thursday, monitored by

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Nairametrics said that its private sources said the pilot scheme will be launched on October 1st, 2021. It said that the press briefing delivered by the Director IT department, Rakiya Mohammed, at the end of the meeting explained that the Bank had been conducting research in regards to central bank digital currencies since 2017 and may conduct a proof of concept before the end of this year.

The project name is tagged Project GIANT and it will use the Hyperledger Fabric Blockchain.

Image courtesy of Seunmanuel Faleye - ApplesBite International Magazine
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Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple's Bite International Magazine.

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