In a statement, explaining the change in the October 1 launch date, the apex bank said it did not want the launch in conflict with independence activities and an October 4th date was indicated. October 4 has come and gone and the best the CBN did was release guidelines for the elusive eNaira.
It did not help that the organisers of the #Endsars protest facilitated their fund-raising via digital currency. The statement noted further that “the CBN’s selection of Bitt Inc, from among highly competitive bidders, was hinged on the company’s “technological competence, efficiency, platform security, interoperability, and implementation experience.”
Why was a Nigerian FinTech company not considered especially given the widespread feeling by Nigerian youth about the CBN’s war on tech and also since working with a local company could have been an opportunity to prove this wrong. What the CBN failed to say is that the member countries that make up the ECCB have a total population of about 700,000 which is less than the aggregated population of Ikeja and Agege.
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