Tinubu Urges CBN to Track Digital Currency Payments for Economic Growth
President Bola Tinubu has directed the Central Bank of Nigeria (CBN) to intensify supervision of digital currency payments nationwide. Speaking at the 18th Annual Banking and Finance Conference in Abuja, Tinubu emphasized the need for regulatory action in response to the rapid adoption of stablecoins and digital payments outside traditional banking systems.
The directive aims to ensure proper oversight of the evolving digital payment landscape and harness digital tools like artificial intelligence and open banking for economic growth. The move comes as the CBN Governor reveals a significant rise in diaspora remittances, highlighting the growing importance of digital financial transactions in Nigeria's economic landscape.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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