Some of the benefits of online finance are improved business model, ease of financing and easy budgeting and taxation. The Central Bank of Nigeria (CBN) has said that next October citizens will be able to use e-Naira online. The CBN made the announcement in a statement issued this week several months after it banned the use of cryptocurrency due to dissatisfaction with its system.
Despite their differences, both Bitcoin and eNaira can run in the Nigerian market according to Natalie Hartman, the Vice President, Marketing, of Bitt Inc, the company that build eNaira for the country. Photo Credit: Google President Muhammadu Buhari launched the country's new digital eNaira currency on Monday as Africa's biggest economy glimpsed to tap into the growing vogue of virtual money and cryptocurrencies.