Since its introduction, Nwanisobi estimates that the virtual currency has been traded for about 62 million naira ($155,000).
Earlier this month, President Buhari unveiled the eNaira at the State House. His speech highlighted the benefits of increased remittances, cross-border trade, improved financial inclusion, and streamlined welfare payments for the government.
As a result, the adoption of the central bank’s digital currency will also improve Nigeria’s economic activities and increase its GDP by $29 billion within a decade.
Announcing the eNaira, the Central Bank of Nigeria’s digital currency, he concluded, “I am delighted.” Introducing a digital currency makes Nigeria one of the first countries in Africa and the world to do so.”
Many are surprised by the CBN’s launch since, like other central banks, the CBN has been suspicious of crypto assets, such as Bitcoin, since they were created.
Recently, the CBN banned banks from participating in financial transactions involving cryptocurrencies, in which many Nigerians have invested to hedge against the depreciation of the naira.