eNaira, bitcoin and mobile money: what’s the difference?

Portia Crewe for BBC Africa

photo credit, Nigeria Presidency

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Nigeria is the first African country to launch a digital currency called e-Naira.

Nigeria is the first African country to launch a digital currency called eNaira. Cryptocurrencies are different from mobile financing platforms such as Orange Money or M-Pesa. eNaira also does not work in the same way as bitcoin or other cryptocurrencies. We explain to you.

Is eNaira a cryptocurrency?

eNaira is a type of digital currency known as a “central bank digital currency,” or MNBC.

It is essentially a digital version of a paper currency of equal value, the naira.

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