Nigeria to Launch its own Digital Currency

Digital currency is here to stay for real and I’m sure few
years from now fiat currency may be out of place. I remember Central Bank of Nigeria fought against
bitcoin and other digital currency, gave strict warning to banks that all banks
in Nigeria will be sanctioned should they process or get involved in cryptocurrency… then I laughed in Swahili…

Right now, Japanese and Nigeria’s Central Bank are said to
be looking at collaborating to development of digital currencies that will be
legally accepted as a means of payment across both countries.
It will interest you to know that Japan already ahead of
Nigeria accepted bitcoin as a means of payment in its financial market. As at
when CBN kicked against the use of bitcoin, the value was still around $450 –
$600; but right now, the value is $4,336.7. 
I was privileged to get myself some bitcoin, invest in some
cryptocurrencies and I have no regret at all for that. 
According to PageOne, the government is also looking at
developing its alternative digital currency that will be politically sanction
called the J-Coin developed by the Mizuho Financial Group and Japan Post Bank.

There
is no timeline as to when the digital currency for Nigeria will be launched but
there are indications that an initial coin offering, ICO might be possible in
the next 12 months.
So
if you’ve got yourself some bitcoin, trade with it or keep it, but don’t spend
it. Either way, it will increase in value.
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15 thoughts on “Nigeria to Launch its own Digital Currency

  1. Slowly but progressing Nigeria will soon get to the level we ought to be. Digital currency is really a great investment! My problem is just that it can be hack, money cab disappear in the twinkle of an eyes. Anyways nice one 9ja

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