The Central Bank of Nigeria is in talks with United States-based tech firms to revamp its digital currency called ‘eNaira’.
The apex bank said it seeks to improve the existing systems around the digital currency.
According to reports, the talks with the tech firms are reaching intermediate stages, and an official agreement could be made public in the coming weeks.
In October 2021, the CBN partnered with Bitt Inc, a global fintech company, to create eNaira.
The CBN stated that the digital currency was created to provide simplicity, promote low cost transactions and drive financial inclusion while minimising inherent risks of disintermediation of any negative impact on the financial system.
The new technology partners would help Nigeria meet the goal of controlling technology.
Speaking on the development, Bitt said that it is informed about CBN’s other partnerships and reaffirmed its commitment in assisting the apex bank.
“Our firm is aware that our partner, the CBN, works with various service providers to explore technical innovations for their digital infrastructure,” Bitt said.
Bitt Inc also confirmed that it is still collaborating with the central bank to “develop additional features and enhancements.”
