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IMF: Central Bank of Nigeria’s digital currency could be used for money laundering

IMF: Central Bank of Nigeria’s digital currency could be used for money laundering

The CBN launched its own digital currency in October 2021, becoming the first central bank in Africa to introduce such a product. Nigerian President Muhammadu Buhari believes eNaira will help “take entrepreneurs out of the gray zone” and boost the country’s GDP by $29 billion over the next decade. In the first month after eNaira’s launch, about 80,000 traders became users, officials said.

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