Experts caution CBN ahead of Oct.1, eNaira launch | The Guardian Nigeria News

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Some Financial Experts have urged the Central Bank of Nigeria (CBN) to take cognizance of the impact its proposed digital currency (eNaira) might have on the country’s financial sector.

The experts spoke in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Abuja, against the backdrop of CBN’s proposed launch of eNaira on Oct. 1.

A Financial Expert, Mr Okechukwu Unegbu, urged the apex bank to be bit more cautious about its proposed Oct. 1 launch of eNaira.

Unegbu, a past president of the Chartered Institute of Bankers of Nigeria (CIBN) said that the CBN needed to have engaged more with stakeholders to ensure that the financial sector does suffer unforeseen consequences after the digital currency is introduced.

He advised the CBN to ensure that the eNaira does not impact negatively on Deposit Money Banks (DMBs)

“eNaira is another form of cryptocurrency, which the CBN has banned, and it seems that the apex bank is trying to imitate what it…



Source: Guardian Newspaper