Nigerians Aren’t Sold On Digital Cash

About a year ago, Nigeria introduced a digital version of its official currency, the naira.

The introduction of the so-called e-naira was partly a response to concerns that the rising popularity of crypto in the country was threatening the banking system.

There are a few countries experimenting with their own versions of digital money, including the Central African Republic, China, Jamaica, The Bahamas, and various islands in the Eastern Caribbean. Other countries, including the United States, are in the “studying” and “thinking deep thoughts about feasibility” phase of things.

So how’s it going for Nigeria and the e-naira? Bloomberg reporter Ruth Olurounbi and Bloomberg Nigeria Bureau Chief Anthony Osae-Brown weigh in.

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