Digital Currency

Mrs Rakiyat Mohammed, Director of the Central Bank of Nigeria’s Information Technology Department, has stated that the banking authority will create a digital currency by the end of 2021. Muhammed made the announcement during a news conference following the Bankers’ Committee meeting on Thursday. “As I stated before the end of the year, the Central Bank will make a special announcement and possibly launch a pilot scheme to be able to provide this type of currency to its citizens,” she said. She stated that approximately 80% of central banks around the world were looking into the prospect of releasing central […]