cNGN stablecoin to be launched Feb. 27, 2024

[Agbe]

Omen I saw dis news and I was like wow!!! That means the new CBN governor na cryptocurrency enthusiast and him go support di technology well, with dis I am even sensing the full adoption of Bitcoin as a legal tender in the country.
In detail. The Central Bank of Nigeria e don approve di African  Stablecoin to be used in the country and they are saying that the cNGN is not a substitution but it is a completement of the eNaira. Nigeria’s central bank greenlights cNGN stablecoin to launch in February according to the article, the cNGN is Pegged with the eNaira and that is to say, you can make a transaction with cNGN with Nigerian currency. And it is used to bridge the gap between the Nigerian currency with cryptocurrency which is known as digital currency in direct transaction.

The Reasons why the cNGN is Created

One of reasons or aims of creating this digital currency in the country is to make those Nigerians who dey live foe abroad to send money to their families easily. That it is take make things easy for those who love foe abroad send money come give their families wey e dey Nigeria.

Then di number two be say na to remove di high transaction fee commont when di people wey dey abroad dey send money come give their families in Nigeria.

Check di link you go see more. Nigeria oye!!! Ooooye!!! We dey go forward.

[Samlucky O]

The Reasons why the cNGN is Created

One of reasons or aims of creating this digital currency in the country is to make those Nigerians who dey live foe abroad to send money to their families easily. That it is take make things easy for those who love foe abroad send money come give their families wey e dey Nigeria.

The New CBN governor dey try and that is to show say him na truly a crypto enthusiast. and him dey help the country to push forward. And that na the only good thing wey don happen to Nigeria especially to us wey be cryptopreneur. Although the stable coin just be like other stable cryptocurrency but anyway na good news. sometimes e dey be like all this our politicians dey dis forum dey see wetting we dey talk and how e go take help our economy.

Then di number two be say na to remove di high transaction fee commont when di people wey dey abroad dey send money come give their families in Nigeria.

At least now people wey dey outside county no go dey suffer for high transaction fee. Just that most of those our brothers or sisters wey dey outside county no dey aware say something like crypto currency still dey exist for naija because th think say the ban affect every thing if not them for dey use Tron, LTC, USDT or even BNB dey send money since but anyway from this stable coin Naim them go carry know more about cryptocurrency.

[iBaba]

I like this idea but this scenario have been completely explained and foresighted by one of Nigeria's finest crypto trader after the CBN lift the ban that has been placed on cryptocurrencies couple of weeks ago. He envisaged that CBN will be coming up with a digital coin that is someway similar to the last eNaira invented by the past Buhari's government.

The same thing is what this government is about to champion thereby bringing up a digital currency that can disrupt the very conventional forex trade that have continued to put the dollar currency above other ones as a monopolized system of one universal currency of forex trading. Why can't we use the cNGN as a stablecoin instead of the USDT that we are so much attached and are used to.

[Charles-Tim]

Please lock this thread. There is existing threads already that you can post replies instead.

I created a topic about this two weeks ago. Although, the date was no yet known at the time. cNGN, a consortium-backed stable coin

Just yesterday, sokani created this topic and included the date: Date set for Nigerian new stablecoin cNGN launch

We can use sokani's thread to post about this and also let us avoid posting the same replies. So the advise is to just lock this thread.