Central bank digital currency in Nigeria: opportunities and risks

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: This paper discussed the opportunities and risks of central bank digital currency (CBDC) in Nigeria, also known as the eNaira or e-Naira. The opportunities which CBDC present to Nigeria include, improved monetary policy transmission, efficient payments and increased financial inclusion. Some of the identified risks include rising digital illiteracy, increased propensity for cyber-attacks, data theft, and the uncertain role of banks in a full-fledged CBDC economy. This article contributes to the literature by evaluating the pros and cons of fiat digital currency such as a central bank digital currency.

Keywords: central bank digital currency; eNaira; blockchain; cryptocurrency; central bank; CBDC; bitcoin; payment system; fiat digital currency; distributed ledger; Nigeria. (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 E59 G18 G21 (search for similar items in EconPapers)
Date: 2021-10-02
New Economics Papers: this item is included in nep-ban, nep-mac, nep-mon, nep-ore and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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https://mpra.ub.uni-muenchen.de/110152/1/MPRA_paper_110152.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/110291/1/MPRA_paper_110291.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/110316/1/MPRA_paper_110316.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/110606/1/MPRA_paper_110606.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/111376/1/MPRA_paper_111376.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/110430/1/MPRA_paper_110430.pdf revised version (application/pdf)

Related works:
Chapter: Central Bank Digital Currency in Nigeria: Opportunities and Risks (2022)
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