Do you think Nigerian governments has what it takes to adopt CBDC project?

[tuna89]

The Government may not partake in such especially if it's something that will boost the welfare of her citizens but if it's otherwise, they will try all efforts to achieve it.

 

[Dowenship]

The Government may not partake in such especially if it's something that will boost the welfare of her citizens but if it's otherwise, they will try all efforts to achieve it.

am not sure though, but let's see how the CBDC will go... Since the adoption is not only in Nigeria but all over the world, its beyond what Nigeria cannot do...

 

[joy101]

I think Nigeria government there are cable financially if actually them want to do that, because this is very good new to hear from Nigeria government.

 

[Kunkun]

I doubt that, honestly there is nothing I trust with the Nigerian government, they have always been more about themselves that the masses so why start now considering the situation the country is in too

 

[Dagm1]

That will certainly be actually a huge range. I believe they are actually however they ought to discover a method to control all of deals, potentially restricting some based upon some made a proposal limitations. Luno will certainly be actually rear to typical.

 

[GIFTMICHAEL]

They have what it takes but they can't make it swift to develop their own coin. The development of CBDC have been announced for some time now, but corruption won't allow them setting it up quick.

 

[Chibson]

Why not, the Nigerian government has what it takes to go digital and a lot of Nigerians have knowledge and understanding of how digital currencies works.

 

[Trexxxy]

I don't think they do, every monetary policy made by the current Nigerian government is an absolute failure, I don't the introduction of "CDC" or whatever it's called will be any different.

 

[Kubiat-Abasi]

I don't think they have what it takes because most of them are inherently self centered to their benefits. The ban on crypto currency has not even been lifted!

 

[Nomad]

Generally speaking CBDC or central bank digital currency is crated by creating fiat reserve in the central bank. It is just a way to use fiat money as a electronic payment. Adoption is not very difficult.

 

[Ub40]

To me, they can join any project they want, I don't care. They are claiming that it is used for money laundering, terrorism sponsorship, purchasing unlawful harms, and insurgency sponsorship. Were these crimes not still there before the existence of crypto coins? Confusion!

 

[Blessedsam60]

Well, I will say Nigerian government has seen their laspses on the banning of cryto currency exchange or trading here in Nigeria. Their participation in CBDC will be a good turn up in financial institution and to every stake holders in cryto market.

 

[Justin]

There are two requirements to be fulfilled, one create CBDC by depositing equal amount of fiat currency in the central bank, two create digital platforms to send and receive funds.

 

[Elfinito]

The may be successful in creating a CBDC but the question here is, will the digital currency give value to the currency in anyway?
Be it digital or fiat, it has the same value against other currencies an it is still worthless

 

[Sotherefore]

Most of the thing that is being done by the Nigerian government is just a misplace of priority , because I don't really see how the digital currency will have any improvement in the economy of the country .They should rather focus on how they can improve the economy because the digital currency is not really our problem.

 

[Thinker009]

Although they have created the digits currency already called enaira ,it shows they are in the right track ,but the only problem I had with them is the banning of cryptocurrency ,I guess it's actually to make the coin thrive

 

[Ononivami]

The Nigerian government can't be trusted because nothing works in the country. I have the feelings that the project will he hijacked by the government and it will be for the interest of the politicians.

 

[HayKay]

I don't think that this project the Nigerian government has embarked on would be successful. Not only have I read or heard that the app is malfunctioning or has issues; the major claim was that the rules guiding the creation of the coin was copied verba theme from another one in Singapore.

 

[BrolySSJ]

The Nigerian government is expected to reverse its stance on cryptocurrency transactions in the country. According to a central bank official, the Nigerian central bank is planning to join the global central bank digital currency (CBDC) project.

The CBDC is believed to use blockchain technology, giving it the characteristics of a cryptocurrency. Nigeria's government prohibited cryptocurrency activity in the country earlier this year. According to the authorities, it is used for money laundering, terrorism sponsorship, purchasing unlawful harms, and insurgency sponsorship.

The financial financial institutions were the forerunners in the fight to have cryptocurrencies declared illegal by the government. Many countries are planned to participate in CBDC development projects. Ghana is one among them. Japan, Vietnam, and other countries are examples.

Do you believe Nigeria's central bank is on the right track?

I think that if they have their own digital version of their fiat currency then it will be massive for them and it will help them in order to form a relationship with other countries that are doing the same as well.

 

[Lens]

I think that if they have their own digital version of their fiat currency then it will be massive for them and it will help them in order to form a relationship with other countries that are doing the same as well.

You can't trust Nigeria when it comes to issues like this. Any project that the politicians would not create an avenue for the politicians to make money, it will never be successful.