• Home
  • About
  • Blog
  • Advertise
  • Contact
No Result
View All Result
Ideasgist
NEWSLETTER
Advert for @ideasbeams
  • Home
  • MediaHot
  • TechnologyNew
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • NewsTrending
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job
  • Home
  • MediaHot
  • TechnologyNew
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • NewsTrending
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job
No Result
View All Result
Ideasgist
No Result
View All Result
  • Home
  • Media
  • Technology
  • Education
  • Sport
  • News
  • Entertainment
  • Lifestyle
  • More Topics
Ideasgist Advert Ideasgist Advert Ideasgist Advert
ADVERTISEMENT
Home Tech

CBN Partners Global Fintech Company for e-Naira

by George Victor
September 2, 2021
in Tech, Uncategorized
Reading Time: 2 mins read
A A
CBN Partners Global Fintech Company for e-Naira

It expressed that “This development was disclosed in Abuja by the Governor of the Central Bank, Mr. Godwin Emefiele, who listed the benefits of the Central Bank Digital Currency (CBDC) to include increased cross-border trade, accelerated financial inclusion, cheaper and faster remittance inflows, easier targeted social interventions, as well as improvements in monetary policy effectiveness, payment systems efficiency, and tax collection.

Project Giant, as the Nigerian CBDC pilot is known, has been a long and thorough process for the CBN, with the Bank’s decision to digitize the Naira in 2017, following comprehensive investigation and inquiries. Given the significant explosion in the use of digital payments and the rise in the digital economy, the CBN’s decision follows a positive global trend in which over 85 percent of Central Banks are now speculating to dopting digital currencies in their countries.The CBN’s selection of Bitt Inc, from among highly competitive bidders, was based on the company’s technological competence, efficiency, platform security, interoperability, and implementation experience.In choosing Bitt Inc, the CBN will rely on the company’s tested and proven digital currency experience, which is already in circulation in several Eastern Caribbean Countries. Bitt Inc. was key to the development and successful launch of the central bank digital currency (CBDC) pilot of the Eastern Caribbean Central Bank (ECCB) in April 2021.”

q6nktkpTURBXy85MTdmMDFlZTQyMjI3MmI1YWM2MTg5OGMzYmMwODFhNS5qcGeSlQMAzLXNCHDNBL TBc0DB80Bsw
CBN Partners Global Fintech Company for e-Naira 3

CBN recently sent a presentation to Nigerian banks about the eNaira project, disclosing more details about its design and operational module. The presentation described how the new currency would be designed and operated.The detailed presentation sent to Nigerian banks on the e-Naira project indicated that it will have a transaction limit for customers, non-interest-bearing CBDC status, and an account value limit.The demonstration noted that a fifty-thousand-naira limit is in place for Send & Receive, the minimum requirement is the individual’s National Identity Number (NIN), which will be validated. A cumulative balance of three hundred thousand naira is fixed each day.Banks in Nigeria would be able to ask all of their customers to sign up for the e-Naira. In addition to pre-generated codes, banks can allocate onboarding invitation codes to a selected group of customers. Customers who have been assigned a code by their banks will be onboarded.

AlsoRead:

9 Tips To Step Up Your Forex Trading Game

iPhone 14 Max vs Galaxy S22+: Spec Comparison, An Even Battle

WhatsApp Working On Letting You Choose An Avatar For Video Calls, Send Avatars As Stickers, And More


Like us on Facebook. Follow us Twitter and Instagram. Subscribe to our YouTube Channel. Join our WhatsApp Group and Telegram Channel. Read more on Latest News, Tech News, Media and lot more.

SUBSCRIBE TO OUR NEWSLETTER





Tags: cbnCryptocurrencynaira
ShareTweetSendShare
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
ADVERTISEMENT
Previous Post

Daniel James looks set to leave Manchester United

Next Post

Craziest Transfer Window in History??

George Victor

George Victor

Related Posts

World Bank Say CBN’s Policies Continues To Damage Nigeria’s Business Environment
News

World Bank Say CBN’s Policies Continues To Damage Nigeria’s Business Environment

June 20, 2022
CBN Launches eNaira Website
Business

CBN To Introduce USSD Code To Boost eNaira

June 11, 2022
Report Banks Hoarding Forex, CBN Tells Nigerians
Banking

New CBN Policy Offload Risks And Liabilities Of Transaction On Customers

June 4, 2022
CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively
Banking

CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively

June 3, 2022
Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate
Business

Naira Falls To N609/$1 At Black Market As Forex Liquidity remains Low

May 26, 2022
Presidential Bid: INEC, CBN Partnership Under Threat Over Emefiele’s APC Membership
News

Presidential Bid: INEC, CBN Partnership Under Threat Over Emefiele’s APC Membership

May 10, 2022
Load More
Next Post
BREAKING: Lionel Messi Joins PSG After Barcelona Exit

Craziest Transfer Window in History??

Please login to join discussion
  • Trending
  • Comments
  • Latest
Gionee G13 Pro Price In Nigeria, Full Speculation

Gionee G13 Pro Price In Nigeria, Full Speculation

February 4, 2022
Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

August 4, 2022
LAUTECH Denied Lady In Viral Sex Video As She Admits Being A Sex Worker

LAUTECH Denied Lady In Viral Sex Video As She Admits Being A Sex Worker

February 5, 2021
Police Give Update On Reports That Girl Captured In Viral S#x Video With Dog Died Of Infection

Police Give Update On Reports That Girl Captured In Viral S#x Video With Dog Died Of Infection

May 14, 2022
Tiwa Savage Lookalike Kash Doll Is The One On The Viral S*x Tape Not Tiwa Savage

Tiwa Savage Lookalike Kash Doll Is The One On The Viral S*x Tape Not Tiwa Savage

October 13, 2021

Certificate for Megarich Consult and Network Entrepreneurship Program is Ready

May 18, 2018
Poly Ibadan: How To Check Your Matriculation Number

Poly Ibadan: How To Check Your Matriculation Number

May 3, 2019 - Updated on May 25, 2021

#BBNaija 2020: Erica And Kiddwaya Make Out Few Hours After Laycon Expressed His Feelings For Her (Watch Video)

August 3, 2020

How To Check Acceptance Fee Payment Not Reflecting On Your Portal

November 22, 2018

Ololufe by Wally G Konkolo (Mp3 Download)

February 9, 2020
Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

August 4, 2022
Big Brother Naija Season 7

Big Brother Naija 2022 Season 7

July 28, 2022
9 Tips To Step Up Your Forex Trading Game

9 Tips To Step Up Your Forex Trading Game

July 2, 2022
Konga raises alarm over scammers using its brand to defraud people

Konga raises alarm over scammers using its brand to defraud people

July 2, 2022
Nigeria, Portugal sign multiple MoUs to increase cooperation, diplomacy, research, others

Nigeria, Portugal sign multiple MoUs to increase cooperation, diplomacy, research, others

July 2, 2022
JJC Skillz Announces Separation With Actress Funke Akindele

JJC Skillz Announces Separation With Actress Funke Akindele

June 30, 2022
iPhone 14 Max vs Galaxy S22+: Spec Comparison, An Even Battle

iPhone 14 Max vs Galaxy S22+: Spec Comparison, An Even Battle

June 29, 2022
WhatsApp Delays Privacy Changes After Backlash

WhatsApp Working On Letting You Choose An Avatar For Video Calls, Send Avatars As Stickers, And More

June 29, 2022
Sony Set To Debut 1” Camera Sensor With The Launch of The Xiaomi 12S Ultra

Sony Set To Debut 1” Camera Sensor With The Launch of The Xiaomi 12S Ultra

June 29, 2022
TikTok App To Help Users Curb Addiction

U.S Wants TikTok Removed From Apple, Google App Stores Over Data Concerns

June 29, 2022
Facebook Instagram Twitter Youtube TikTok Telegram

An online media website for latest news and updates in Technology, Business, Education, Sports, Politics, Entertainment, Health, Fashion...and many more.

About

  • Advertise
  • Contact
  • Newsletter

Quick Links

  • Privacy
  • Terms of Use
  • DMCA

2021 Ideasgist ™ | All rights reserved.
A trademarks of Ideasbeams Int'l.

No Result
View All Result
  • Home
  • Media
  • Technology
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job

2021 Ideasgist ™ | All rights reserved.
A trademarks of Ideasbeams Int'l.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...
 

You must be logged in to post a comment.