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Al Jazeera
Al Jazeera
Business

How has Nigeria’s digital currency fared since its launch?

CBN Nigeria Al Jazeera Muhammadu Buhari Africa Economy Godwin Emefiele Lagos blockchain Crypto
In this photo released by the Nigeria State House, Nigerian President Muhammadu Buhari, centre, and Central Bank governor Godwin Emefiele, right, during the launch of a digital currency in Abuja, Nigeria Monday, Oct. 25, 2021. Nigeria has launched a digital currency which the Central Bank of Nigeria (CBN) says is a "major step forward in the evolution of money" in Africa's most populous country. Nigeria's President Muhammadu Buhari said at the launch Monday that the digital currency and the blockchain technology it uses can foster economic growth and increase the GDP of Africa's biggest economy by US$29 billion over the next 10 years. (Sunday Aghaeze/Nigeria State House via AP)

Abuja, Nigeria – James Ndubuisi, in-house lawyer at Lagos-based entertainment firm SoundHive Group, is certain he has no need for the eNaira – Nigeria’s official digital currency – or its app.

“It needs to be entirely binned,” the 30-year-old told Al Jazeera.

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