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Nigeria’s e-Naira gains more ground as Bitcoin P2P volume shrinks
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Although the Federal high court gave Nigeria’s central bank digital currency, e-Naira a green light earlier in October, the Central Bank took four weeks to officially launch it. With the launch of e-Naira on 25 October, 2021, Nigeria became the first African country to launch a CBDC.
Despite the popularity of Bitcoin in the country, the e-Naira launch was massive. Reports suggested that over 200,000 wallets were downloaded within 24-hours of launch. Meanwhile, other data suggested that nearly
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