The Central Bank of Nigeria has said that the implementation of the country’s digital currency will be done in four phases and also lead to the interoperability of the eNaira with those of other central banks.
The Director, Information Technology Department, CBN, Mrs Rakiya Mohammed, said this at the licensed payment service providers’ engagement session in Lagos on Monday, as part of further interaction with a broader category of industry players, according to a statement.
The statement said the CBN and key stakeholders in the payments system ecosystem, particularly the PSPs and a large community of fintech groups, during the one-day engagement session, resolved to work together to ensure more adoption of the recently launched eNaira.
“The full implementation of the eNaira would be done in four phases, culminating in offline eNaira payments solutions, cross-border payment and interoperability of the eNaira with those of other central banks,” Mohammed said.
She clarified that the CBN was neither competing with the Deposit Money Banks nor other actors in the Nigerian payment system environment.
