The Central Bank of Nigeria (CBN) has perfected plans to
launch its own digital currency on October 1, 2021.
According to information made available to Nairametrics, the
CBN alongside stakeholders picked Independence Day as its launch date.
At a recent press briefing, the IT Director, Rakiya
Mohammed, confirmed this development and noted that the apex bank has studied
the digital currency landscape since 2017.
The digital currency initiative is tagged
Project GIANT, and it will use the Hyperledger Fabric Blockchain.
Recall that CBN’s Governor, Godwin Emefiele had announced
that the bank was working on a digital currency during the 306th Banker’s
Committee meeting.
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