Nigeria’s CBDC Transaction Volume Exceeds $9M

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Nigeria’s CBDC has been used to conduct transactions totaling 4 billion Nigerian Naira or $9.3 million, as announced by the governor of the country’s central bank, Godwin Emefiele.

Since the launch of the CBDC by Nigeria in October 2021, the app has been installed more than 840,000 times. The Central Bank has also reported 270,000 active wallets.

Emefiele has praised the integration of CBDC into the economy of a state with a population of more than 200 million people. Of these, about 40% do not have a bank account.