UK markets close in 45 minutes
  • FTSE 100

    7,224.18
    +19.63 (+0.27%)
     
  • FTSE 250

    22,966.88
    +35.22 (+0.15%)
     
  • AIM

    1,229.81
    -4.38 (-0.35%)
     
  • GBP/EUR

    1.1854
    +0.0054 (+0.46%)
     
  • GBP/USD

    1.3763
    +0.0004 (+0.03%)
     
  • BTC-GBP

    45,896.68
    +1,917.84 (+4.36%)
     
  • CMC Crypto 200

    1,506.43
    +1,263.75 (+520.75%)
     
  • S&P 500

    4,553.18
    +8.28 (+0.18%)
     
  • DOW

    35,715.14
    +38.12 (+0.11%)
     
  • CRUDE OIL

    84.95
    +1.19 (+1.42%)
     
  • GOLD FUTURES

    1,808.50
    +12.20 (+0.68%)
     
  • NIKKEI 225

    28,600.41
    -204.44 (-0.71%)
     
  • HANG SENG

    26,132.03
    +5.10 (+0.02%)
     
  • DAX

    15,588.47
    +45.49 (+0.29%)
     
  • CAC 40

    6,715.12
    -18.57 (-0.28%)
     

Nigeria delays launch of eNaira digital currency

·1-min read
Africa's largest economy was set to follow China and others in adopting a central bank-backed digital currency as it looks to tap into the popularity of crypto and virtual money (AFP/PIUS UTOMI EKPEI)

Nigeria has delayed the launch of its eNaira digital currency, initially planned for Friday, because of the country's independence day celebrations, the Central Bank of Nigeria said.

Africa's largest economy was set to follow China and others in adopting a central bank-backed digital currency as it looks to tap into the popularity of crypto and virtual money.

"The planned unveiling on October 1, 2021 has now been deferred due to other key activities lined up to commemorate the country's 61st Independence Anniversary," the CBN spokesman said in a statement on the bank's Facebook page.

"The CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer."

The statement did not give details on when the eNaira would officially be launched. Central bank officials did not immediately return calls seeking clarification on the new date.

Nigeria has seen a boom of cryptocurrencies as people look for ways to avoid the weakening naira currency and counter soaring costs of living and unemployment in Africa's most populous country.

pma/lth

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting