on Feb. 21, the CBN is in talks with new “technology partners” for the development of a new and improved system to manage the eNaira.
The Nigerian financial authority has discussed these plans with the New York-based technology firm R3, according to sources close to the matter. New software for the eNaria will be created with the intention for the CBN to keep full control over the initiative, however, the unnamed source said the matter is confidential.
The effort to create the eNaira began back in 2021 with the help of United States-based Bitt Inc. According to the report, a new partner won’t take Bitt Inc.’s role immediately but rather help phase in total control for the Nigerian central bank. In a statement, Bitt Inc. said it is aware that the CBN works with various partners for its technological innovations. It confirmed nonetheless that it still works closely with the CBN and is “currently developing additional features and enhancements.”
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Barbados used BittGlobal.
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