The Central Bank of Nigeria (CBN) announced that it will be launching the Pilot Scheme of its digital currency by October 1st, 2021.
It was gathered that CBN held a private webinar yesterday, Thursday 22nd of July, and outlined its digital currency initiatives.
Nairametrics reported that a private source revealed that the scheme will be launched on October 1st.
The project name is labeled Project GIANT and that it will employ the Hyperledger Fabric Blockchain.
The press briefing delivered by Director of IT department confirmed that the bank had been researching about digitalizing the Central Bank currencies since 2017 and that the proof may be shown before the end of the year.
This has been confirmed to be on October 1st, which is Independence Day.