Project Giant: Nigeria’s CBDC set for pilot rollout on Independence Day
Cointelegraph
Published Sep 07, 2021 09:07AM ET
Updated Sep 08, 2021 11:20AM ET
After four years of development, the Central Bank of Nigeria (CBN) is set to roll out its digital currency project. The launch will reportedly happen on the occasion of the country’s 61st Independence Day celebration on Oct. 1.
Nigeria’s central bank digital currency (CBDC) project comes amid significant anti-crypto policies from the CBN and negative cryptocurrency sentiments from several government officials. The digital naira is also coming at a time when its fiat counterpart has plunged to new lows, with the central bank enacting even tighter forex restrictions.
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Written By: Cointelegraph
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