IMF

The International Monetary Fund (IMF) has acknowledged that numerous international institutions, including central banks, are showing interest in the newly released Nigerian central bank digital money (CBDC). However, the CBDC is not recommended for monetary policy execution, cybersecurity, financial stability, or operational resilience. In its most recent country focus report, prepared by economist Jack Ree, the IMF explains why Nigeria’s new CBDC has piqued the interest of the international community, particularly central banks. According to the study, unlike other cryptocurrencies like as bitcoin and ethereum, the e-naira is subject to tight central bank access rights control. The CBDC derives its […]