Central Bank of Nigeria CBN has announced the engagement of a global fintech company as a technical partner for its digital currency “E-Naira” scheduled to be unveiled later this year.

Governor of the apex bank, Mr. Godwin Emefiele who made this known in Abuja listed the benefits of the digital currency to include increased cross-border trade, accelerated financial inclusion, cheaper and faster remittance inflows as well as improvement in monetary policy effectiveness.

A statement by the Bank’s Director, Corporate Communications, Osita Nwanisobi, the technical partner was selected after a competitive bidding process based on its track record and proven digital currency experience.