Nigeria's Central Bank Denies eNaira Threatens Financial Stability Despite Media Claims
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Nigeria's central bank issued a statement denying that its eNaira project threatens the country's financial stability, in response to media reports.
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Some reports pointed to a CBN report admitting gradual rise in eNaira adoption and funds held in eNaira wallets not available to banks.
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CBN report highlights hypothetical threat of banks lacking liquidity if there is total eNaira adoption.
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In its statement, CBN plainly rejected the media claims and referred to its own "in-depth understanding" of CBDCs.
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Recent survey shows Nigeria has world's most cryptocurrency-aware population, with 99% more knowledgeable about Web3 than major economies.