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The Central Bank of Nigeria (CBN) has announced that the country will soon create its digital currency.

The governor of the Central Bank of Nigeria (CBN), Mr Emefiele said that there is a connection between security and economic growth as the idea of a digital currency would soon become a reality in the country.

In his words: “If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer,” I, therefore, would like to appeal to our brothers, who decide that they want to live in bushes and forests, that they should please, begin to retreat, drop their arms and come and embrace the anchor borrowers’ programme,” 

“If they do so, it will help them; if they choose not to do so, they will be confronted by the security as this battle continues. I am optimistic before the end of the year that the security challenges confronting the country will substantially abate.”

“Don’t get me wrong, some may be legitimate but I dare say most are illegitimate and I will corroborate that, Under cryptocurrency and bitcoin, Nigeria comes second right? But in the global size of the economy, Nigeria comes 27th.

“So do you think that there is some correlation? You think those countries whose economies are second and 26th will allow you to grow your cryptocurrency business to second position, if what is inside is a big deal that is going to profit everybody?” he asked

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