Central Bank Of Nigeria has stalled the launch of eNaira digital currency

Central Bank of Nigeria has stalled the launch of its eNaira digital currency, which was originally scheduled for Friday, due to the country’s Independence Day celebrations.

Africa’s largest economy should follow China and other countries in adopting a central bank-backed digital currency to unlock the popularity of virtual and crypto money.

“The inauguration scheduled for October 1, 2021, has been stalled due to other important activities commemorating the 61st anniversary of the country’s independence,” the Central Bank of Nigeria spokesperson said in a statement on the bank’s Facebook page.

“Central Bank of Nigeria and other partners worked around the clock to ensure that everything ran smoothly for the benefit of the customer.”

The statement did not provide details on when eNaira would be officially launched. Central Bank officials did not immediately respond to calls seeking clarification on the new date.

Nigeria has seen a cryptocurrency boom as people seek ways to avoid the naira currency and counter the rising cost of living and unemployment in Africa’s most heavily populated country.