Nigeria’s CBDC: next steps and lessons learned
Plus: regional currency networks, consumer expectations and more
“If you change the way you look at things, the things you look at change.” – Wayne Dyer ||
Hello everyone! I hope you’re all doing well.
Today’s newsletter flies south to Nigeria, where I look at the latest in its CBDC strategy and at lessons this holds for the ECB push. I also look at the barriers to cross-currency networks, and at why US consumer surveys can differ so widely.
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IN THIS NEWSLETTER
Nigeria’s CBDC: next steps and lessons learned
Term of the day: PAPSS
Macro: the consumer expectations question
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WHAT I’M WATCHING:
Nigeria’s CBDC: next steps and lessons learned
Last week, the Central Bank of Nigeria (CBN) published its Payments System Vision 2028, a roadmap for the country’s financial system development over the next couple of years. It builds on previous modernization initiatives, setting targets for greater payment system interoperability, scaled instant transfers, further reduction of cash use, higher financial inclusion and deeper cross-border integration.
It also contains an update on the country’s CBDC, the eNaira, and is quite blunt:
“CBDC (eNaira) adoption is slow.”
