Home Tech Nigeria Launches Digital Currency To Mark Its Centenary

Nigeria Launches Digital Currency To Mark Its Centenary




Technology has gone so fast that now we are talking about having e-currency; yes e-money in now in Nigeria. The Central Bank of Nigeria (CBN) recently launched a digital N100 paper note, first of its kind in order to celebrate Nigeria’s centenary.

According to the CBN Bank Governor, Godwin Emefiele, the note will start rolling out on the 19th of December.

He said that the new e-currency will be sent to the banknote equipment manufacturers and other machine suppliers next week on Wednesday; this will enable them to adapt t machines and authentication devices.

On the 26th of this month, the new N100 bank note will be published and sent to the CBN to commercial banks, chamber of commerce, Nigeria Police Force, cash in transit companies among others.

Another important date to this event is the 3rd of December; on this day, leaflets on the new note will be sent to 1000 Point Of Sale (PoS) in the country, which includes a reminder about adapting machines and devices.  On Wednesday, 17th the same month, the government is looking a exhibiting a film educating the public on how to identify the authenticity of the new N100. This will be on YouTube.

According to the bank governor the new money’s features have been designed with enhanced security to ensure resistance against counterfeiting.