Adoption of eNaira has been slow.
Shutterstock
To encourage the widespread use of eNaira, Nigeria will have to fix its infrastructure, train financial services staff and ensure data privacy for users.
Some of the of 19,000 private cryptos in use by end of June 2022. Users have increased sharply in Africa after the COVID-19 outbreak. Silas Stein/Picture Alliance via
Getty Images
To live up to their promise, both on the African continent and elsewhere, digital currencies must be globally coordinated.
Banking on bitcoin: El Salvador announced plans to build a Bitcoin City in November 2021.
Rodrigo Sura/EPA
Plus, a philosopher explains the history of the idea that we might all be living in a simulation. Listen to The Conversation Weekly podcast.
There is a need to educate Nigerians on the difference between the digital representation of cash deposits in bank accounts and the eNaira in digital wallets.
Pius Utomi Ekpei/AFP via Getty Images
Nigeria can pull off its newly introduced digital currency but there are concerns that must be addressed for its smooth operations.