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Nigeria Sees Major Jump In CBDC eNaira Adoption Amid Cash Shortages

The Nigerian economy’s cash shortage has suddenly changed the fortunes of the country’s central bank digital currency (CBDC) eNaira, which was once struggling to see any major adoption and traction. On Tuesday, March 21, Godwin Emefiele, governor of the Central Bank of Nigeria said that eNaira transactions have shot up by 63% to 22 billion nairas ($47.7 million) since its introduction. Also, in comparison to the data from October 2022, the total number of CBDC wallets has also jumped by more than 12 times to 13 million. (coingape)

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