Nigeria's CBDC Transaction Volume Exceeds $9M

Nigeria's CBDC Transaction Volume Exceeds $9M

Nigeria's CBDC transaction volume has exceeded $9 million

Nigeria's national digital currency was used to conduct transactions totaling 4 billion Nigerian Naira ($9.3 million). This was announced by the governor of the country's central bank, Godwin Emefiele, writes CoinDesk.

Since the launch of Nigeria's CBDC in October 2021, the corresponding application has been installed more than 840 thousand times. The Central Bank also reported on 270 thousand active wallets.

Emefiele positively assessed the integration of CBDC into the economy of a state with a population of more than 200 million people. Of these, about 40% do not have a bank account, according to The Guardian.

“Cryptofascism” in action: how the introduction of central bank digital currencies will affect economic freedoms

Recall that in February, the IMF warned about the risks of money laundering in the Nigerian digital naira.

In May, the Nigerian SEC equated cryptocurrencies to securities .

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