eNaira To Increase Nigeria’s GDP By $29bn

President Muhammadu Buhari says Nigeria’s new digital currency, eNaira, will increase the country’s Gross Domestic Product by $29 billion over the next 10 years.<br />The President says the launch of eNaira makes Nigeria the first country in Africa and one of the first few countries globally to introduce a digital currency.<br />The new payment system is expected to drive financial inclusion, serve as a backbone for electronic payment in Nigeria and also enable the movement of more people from the informal to the formal sector, hence scaling up the tax base of the country.