According to Chinedu Albert, a legal expert in Nigerian tech and innovation, the adoption of eNaira will be dependent on two key factors. Firstly, the government needs to earn the trust of Nigerians. This implies that the government must demonstrate transparency, accountability, and reliability in its implementation and management of the digital currency. Secondly, the naira itself must gain a more trusted status among the population. This suggests that the stability and value of the national currency need to be strengthened to instill confidence in the eNaira. Only when these conditions are met, will the adoption of eNaira become a reality in Nigeria.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinNigeria's Crypto Ban Impaired eNaira Adoption Despite High Global Ranking