Is Nigeria Ready For The eNaira?

The Central Bank of Nigeria (CBN) earlier announced to launch the pilot scheme of its Central Bank Digital Currency (CBDC) on Nigeria's Independence Day (October 1, 2021) but rescheduled it to 25 October, 2021. The initiative tagged Project “GIANT” uses a blockchain technology known as the Hyperledger Fabric Blockchain and was christened the ‘e-Naira.’ While many experts and stakeholders continue to discuss the gains and possible challenges of this new technology, some have asked if the eNaira is what Nigeria really needs now and if Nigeria/Nigerians are ready for the eNaira. In this episode, a banker in Nigeria, Stanley Onuorah, provides some perspectives into the many concerns surrounding the eNaira.