Expert lauds CBN move to introduce digital currency

An expert in digital currency management, Dr Chimbo Obieze, has applauded the Central Bank of Nigeria (CBN) for the move to introduce digital currency in the country.

Obieze, Executive Director of Dapmanagment Academy, made the commendation in an interview with the News Agency of Nigeria (NAN)  in Enugu on Monday.

Recall that the CBN on June 10 said that its digital currency might be launched before the end of 2021.

Obieze described the move as timely and a welcome development.

“It is great and new innovative development to further open the frontier of the financial sector of the country and create wealth for our people,’’ he said.

According to him, the move when actualise will broaden the financial horizon and also complement other banking services already available in the country.

“The launch of the CBN digital currency will create huge digital market and make the country a digital currency hub in Africa.

“The country alone, with a population of over 200 million and half of it being youths mostly operating in the digital space, would be huge market and patronage for the CBN’s digital currency to grow geometrically.

“This is excluding other youths from other African countries, especially those that are close to us that will key into the CBN digital currency platform as well.

“This is fantastic. I see it being massive, huge and likely to become an economic game changer for the country,’’ he said.

Obieze called for collaboration between the CBN and the Ministry of Digital Economy to get Nigerians educated on the benefits of the digital currency and how to use it for maximal benefits.

“Our people need to get prepared by way of digital currency education to seize this upcoming golden opportunity.

“There is a need for the CBN and the Ministry of Digital Economy to start educating more Nigerians on the concept of digital economy and currency usage,’’ he said.

Obieze said his organisation was ready to partner the apex bank and the Ministry of Digital Economy to educate Nigerians on digital currency. (NAN)