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 <p class="is-style-lead">The Central Bank of Nigeria expressed that the <a rel="noopener noreferrer nofollow" title="local" href="https://thebittimes.com/tag/local.html">local</a> CBDC, the eNaira, is not a threat to the nation’s financial stability.</p>
 <p>On October 9, the Central Bank of Nigeria (CBN) issued a statement explaining that the eNaira does not threaten the nation’s financial stability. The statement came in response to <a rel="noopener noreferrer nofollow" title="local" href="https://thebittimes.com/tag/local.html">local</a> media indicating that the CBDC could threaten the nation’s financial stability.</p>
 <p>In September, the central bank published a&nbsp; 300-page book, “Economics of Digital Currencies: A Book of Readings, ” explaining the financial implications of adopting a CBDC. The paper included topics such as the potential effect of a CBDC on deposit liabilities, regulatory concerns, social welfare, and public sentiment.</p>
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 <p>The bank explained that the CBDC and the cryptocurrencies are different things; hence, the speculation of the cryptocurrency market behind the fake news doesn’t apply to the use of the CBDC.</p>
 <p>CBN Director of Corporate Communications, Dr. Isa Abdulmumin, added that there is a lack of understanding of CBDC behind the news on the eNaira as a potential threat to the nation’s financial stability.</p>
 <p>CBDC has been playing an essential role within central banks’ economies digitization worldwide, as some examples can be seen as the digital yuan and the digital euro, among other cases.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nigeria-s-central-bank-confident-about-local-cbdc-enaira-tbt65825.html">https://thebittimes.com/nigeria-s-central-bank-confident-about-local-cbdc-enaira-tbt65825.html</a></p>

Nigeria’s Central Bank confident about local CBDC eNaira

TheBitTimes

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