Economy News

ENaira: AFF Partners CBN On Improved Adoption

ENaira: AFF Partners CBN On Improved Adoption
  • PublishedJune 27, 2022

African Fintech Foundry (AFF), in partnership has partnered with the Central Bank of Nigeria (CBN) to bring together experts and stakeholders for the eNaira hackathon.

With the theme “eNaira – Africa’s Gateway to a Digital Economy,” the hybrid hackathon will bring together teams of talented entrepreneurs, developers, designers, solution developers, problem-solvers, out-of-the-box thinkers, and code magicians from Africa to develop innovative solutions that will drive improved adoption of the eNaira.

According to a statement by the organisers, registration for the eNaira hackathon, geared towards ideating innovative solutions for the newly launched digital currency, is billed to open on June 27, 2022, and run till July 21, 2022.

The organisers noted that the main event, which is billed to kick off from August 4, 2022, is part of efforts to drive financial inclusion, facilitate macroeconomic growth and integrate the Nigerian economy into the world-leading economies through innovation and cutting-edge emerging technologies.

It, therefore, urged interested participants to visit the eNaira Hackathon to register from June 27, 2022.

Speaking on innovation in Nigeria’s payments system ecosystem, the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele recently said, “We cannot deny the fact that the newly introduced CBDC (eNaira) would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital. We have seen in the past few years how digital currencies have opened international economies to individuals who wield them and how seamless they have made trading, buying, investing and other economic activities.

“We desire to achieve this and more with the eNaira with the underlying goal to boost Nigeria’s economic outlook. Innovators at the hackathon will develop solutions in the areas of international remittance, trans-border payment, blockchain, financial inclusion, and trade (AfCTFA),” he added.

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