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Nigeria presents digital currency: ‘eNaira’

At the start of this week, Nigerian President Buhari has launched the country's new digital ‘eNaira’ currency. It should be a way for Africa's largest economy to tap into the growing popularity of virtual money and cryptocurrencies.

President Buhari said at the official launch: "We have become the first country in Africa and one of the first in the world to introduce a digital currency to our citizens."

With the eNaira, Nigeria becomes the first in sub-Saharan Africa to fully launch a digital currency.

Nigeria has seen booming interest in cryptocurrencies as people look for ways to avoid the weakening Naira currency and combat high costs of living and unemployment in Africa's most populous country.


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