PROBLEMS AND PROSPECTS OF THE CENTRAL BANK OF NIGERIA’S DIGITAL CURRENCY (E-NAIRA)
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Pages: 75-90
Questionnaire: Yes
Chapters: 1 to 5
Reference and Abstract: Yes |
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ABSTRACT
The purpose of this study is to assess the issues and potential for the Central Bank of Nigeria’s digital currency (e-Naira). The following aims led this study: to investigate the problems associated with the launch of the CBN’s digital currency (e-Naira), to investigate the obstacles of e-Naira in comparison to paper Naira, and to assess e-Naira’s prospects for the Nigerian economy. The study used a descriptive and explanatory approach, with questionnaires and library research being used to obtain data. Primary and secondary data sources were employed, and the data was analysed using the chi square statistical technique at the 5% level of significance, with results given in frequency tables and percentages. The study included 100 residents of Abuja, FCT, Nigeria. The study’s findings revealed that acceptability is a big issue for the CBN’s digital currency; based on the study’s findings, there should be sufficient knowledge of CBN’s digital currency among Nigerians both at home and abroad.
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