Redesigning the eNaira central bank digital currency (CBDC) for payments and macroeconomic effectiveness

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: Central bank digital currency is non-physical money or the digital equivalent of physical money issued by a central bank. Nigeria is the first African country to issue a central bank digital currency, popularly known as the eNaira. This paper highlights the redesign features which the eNaira should possess for it to become very effective in offering payment solution and for macroeconomic stability. The eNaira should have an interest-bearing status, have enhanced security features and should offer zero transaction cost on eNaira transactions.

Keywords: eNaira; central bank digital currency; Nigeria; interest-bearing CBDC; cryptocurrency; blockchain; payment system. (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-mac, nep-mon and nep-pay
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Related works:
Chapter: Redesigning the eNaira Central Bank Digital Currency (CBDC) for Payments and Macroeconomic Effectiveness (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:118807

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