Central Bank of Nigeria

It is reported that the Central Bank of Nigeria (CBN) imposed a fine of 200 million naira (about 433000 US dollars) on United Bank (UBN) because the bank violated the country\’s reg

It is reported that due to a shortage of cash, Nigerians are turning to the country’s central bank digital currency (CBDC). The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, told reporters at a news conference that since October last year, the number of eNaira wallets has increased more than 12 times to 13 million, and this year’s transaction value has increased 63% to 22 billion naira (US $48 million). The country’s CBDC was launched in October 2021. (Bloomberg) Interpretation of this information: The rise in the number…