CBDCs AND WHY BANKS WILL HAVE TO CATCH UP

CBDCs AND WHY BANKS WILL HAVE TO CATCH UP Earlier this week on Saturday October 2nd the Federal High Court of Nigeria led by Justice Taiwo Aboyami Taiwo okayed the rollout a Central Bank Digital Currency (CBDC) as a legal tender. The digital currency was named eNaira issued by the central bank and supported by the eNaira wallet. Consequently Nigeria’s CBDC website also went live. On this website, the Central Bank of Nigeria (CBN) described the eNaira as “both a medium of exchange exchange and a store of value, offering…