Emefiele Advises Bank of Uganda on Establishment of Central Bank Digital Currency

Finance Correspondent

The Governor, Central of Nigeria, Mr. Godwin Emefiele has advised the Bank of Uganda on the establishment of the Central Bank Digital Currency (CBDC).

The Governor made this known when he welcomed delegation from the Bank of Uganda (BoU) on an experience sharing tour of the CBN’s Central Bank Digital Currency (CBDC) project e-Naira.

This was disclosed on the apex bank’s Twitter handle @cenbank on Tuesday, May 10, 2022.

The eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. It serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.

The eNaira, according to the CBN, has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money.

(The Sight News)