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❕NEWS Nigerian President Muhammadu Buhari has Launched The Country's CBDC

GoldenLady

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So that's good going and Nigeria are going great guns that actually saves an issues lot of people will start the use but educating of users is important and needed
I saw a debate on another forum Nairaland and it made me realize how little most people know about the E-Naira. The argument was mainly based on it it's a cryptocurrency or not.
 

Henrytuedor

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Well that's a pretty famous forum but I will always say that at the moment the thing will fail because people don't have knowledge they need to educate people first tbh
 

Mikesax

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The E-Naira they launch and after three day is no more in the play store because people don't like what the put on it.
 

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The E-Naira they launch and after three day is no more in the play store because people don't like what the put on it.
I would have wanted the Enaira to be a huge success because that would have encouraged the government to lift the ban on Cryptocurrencies but as it is now, the crackdown of bank accounts of crypto users may become even more severe.
 

achawaskey

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It is a welcome development, but will be complete if it is not allowed to use it to exchange with other digital currency like any cryptocurrency, it will not be completely welcome.
 

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I still don't get the usefulness of launching the so-called enaira. Instead of looking for ways to make the currency less useless they are creating an entire stuff that's not really necessary.
 

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I believe with time and I have heard a report of the committee comprise of fintechs in Nigeria , cryptocurrencies will be unban soon .
That will be so great for Nigerians. It is so much better to have both cryptocurrencies and the CBDCs functional. Then citizens can enjoy the benefits that come from both of them.
 

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That will be so great for Nigerians. It is so much better to have both cryptocurrencies and the CBDCs functional. Then citizens can enjoy the benefits that come from both of them.
absolutely because only the Central Bank digital coin will not make sense neither will do a market capitalisation of when used in combination to cryptocurrency you'll be better improvement in the economy.
 

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Its really a good development for me , because launching of the enaira app would give platform for people to save their monetary asset in the app and also for trabsactionary purpose
It is not a good development for me but I respect your opinion. The project was done with the viewing of creating alternative route to crypto. But the unfortunate thing is that it is not welcomed by the huge numbers of the citizens. I am a Nigerian, and I have never used nor seeing someone using the platform for transaction. I know they will soon start forcing it on the citizens to avoid total colossal failure of the project.
 

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All i see playing out here is pure hypocrisy by the president and the central bank governor. They decided to ban crypto currencies for some silly reasons, but they did not consider this before using same crypto technology to come up with a so called cbdc. Our fiat currency alone is already suffering devaluation due to very unrealistic policies made by the same Government and its officials.

I do not believe that much citizens would give the enaira a thought at all, as most of us are already feeling better with using crypto currencies since our money has no value.
What do you think?
 

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It is not a good development for me but I respect your opinion. The project was done with the viewing of creating alternative route to crypto. But the unfortunate thing is that it is not welcomed by the huge numbers of the citizens. I am a Nigerian, and I have never used nor seeing someone using the platform for transaction. I know they will soon start forcing it on the citizens to avoid total colossal failure of the project.
That's the issues there , because I know the government very well ,I just hope they don't think about something like that , because that would really be a big burden on the citizens ,most actually don't even like the app and it should not be forced ,many still prefer cryptocurrency than the coin I think
 

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All i see playing out here is pure hypocrisy by the president and the central bank governor. They decided to ban crypto currencies for some silly reasons, but they did not consider this before using same crypto technology to come up with a so called cbdc. Our fiat currency alone is already suffering devaluation due to very unrealistic policies made by the same Government and its officials.

I do not believe that much citizens would give the enaira a thought at all, as most of us are already feeling better with using crypto currencies since our money has no value.
What do you think?
Absolutely, the Citizens has not given the E-naira much priority because I have not seen it trending as such. It is very possible that if the government or central bank has not restricted the commercial banks from cryptocurrency related transactions, the E-naira will be trending heavily by now because all cryptocurrencies enthusiasts will go digital completely.
 

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