Analysts at Financial Derivatives Company Limited, led by financial expert Bismarck Rewane, have said the planned introduction of a digital currency will deepen financial inclusion in the country.
FDC, in a new report, said, “Nigeria is set to follow the global trend as it plans to launch its digital currency by year end. Unlike crypto, digital currencies are regulated by central banks, thus giving them some level of control on the financial system. The analysts, however, highlighted rising concerns of distrust in the government and its policies, cyber security and inadequate digital infrastructure.
Those limiting factors are enough to conclude that the digital currency will negatively impact financial inclusion. It is always important to acknowledged the cultural influence on polices in African set up. Which seems to reflect on your point on inflation- last paragraph.
Jerks
The naira is already a digital currency as many businesses take place online, strengthen that avenue and make it easier, cheaper and safer to do business online rather than coming up with another currency.
I don't trust this government to handle this!!!
Lol who owns this look
The idea is a stupid one. We don't need it.
Only a fool will used CBN digital currency
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