Nigerian Central Bank Refutes Media Reports Suggesting Its CBDC Poses a Threat to Financial Stability
The Nigerian central bank has disputed media reports suggesting its Sept. 11, 2023 document implies that its e-naira currency poses a threat to financial stability. The central bank said it felt compelled “to clarify the reports to ensure that misunderstandings are not fostered.” Book Gives an ‘In-Depth Understanding of CBDCs’ The Central Bank of Nigeria (CBN) has refuted media reports that its central bank digital currency (CBDC) known as e-naira, poses a threat to financial stability. In a statement issued on Oct. 9, the bank suggested that the authors of the reports lacked an understanding of portions of the foreword in its recently published document. PRESS RELEASE: eNaira No Threat To Financial Stability pic.twitter.com/MYwxUoHvWe — Central Bank of Nigeria (@cenbank) October 9, 2023 The document — or “book” as the CBN calls it — is titled Economics of Digital Currencies: Book of Readings. In the foreword, the central bank characterizes the book as an attempt “to provide