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Nigeria launches eNaira amid hope, scepticism Updated: 2021-10-26 07:53:33 KST

Nigeria became the first African country on Monday, to launch a digital currency known as the eNaira.
The country's leaders say the move will expand access to banking, enable more remittances and could grow the economy by billions of dollars.
However, both experts and cryptocurrency users in the country say there are more questions than answers regarding the digital currency, noting that a large amount of worry stems over the consistency of its central bank's rules, meaning the government now faces a tough path to make the eNaira a success.
So far 487-thousand US dollars in eNaira have been issued to financial institutions.
Nigeria now joins the Bahamas, who were the first to launch a general purpose central bank digital currency known as the Sand Dollar.
However, China currently has on-going trials, while Switzerland and the Bank of France have announced Europe's first cross-border experiment.
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