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Digital Currency to be Launched on October 1 – CBN

todayJuly 23, 2021 4

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The Central Bank of Nigeria (CBN) will be launching its pilot plan of the digital currency on October 1st, 2021.

Statistics from Nairametrics confirm that the bank drew its digital currency initiative with its stakeholders through a private webinar held on Thursday.

In a recent report by The PUNCH, the CBN’s Governor, Godwin Emefiele had published that the bank currently worked on digital currency at the 306th Banker’s Committee meeting. Private sources show that the pilot plan will be launched on October 1st, 2021. In addition, the press briefing ushered by Rakiya Mohammed, the Director IT department at the end of the meeting clarified that the Bank had been conducting research in this regard, since 2017 and may conduct a proof of concept before the end of this year. The pilot system is termed Project GIANT designed to utilize it the Hyper-ledger Fabric Blockchain.

 

Written by: Busayo Babs

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