Nigeria’s digital naira could pose risks of money laundering and financing of terrorism. This is stated in the справочном документе МВФ.
Experts from the IMF identified similar threats in cross-border deployment of CBDC. They urged the Bank of Nigeria to conduct a broad risk assessment and remedy deficiencies in AML/CFT-protocols. They also noted potential cybersecurity issues in the digital naira.
According to Bloomberg, as of 15 November 2021, the digital wallet CBDC had been downloaded by about 488,000 Nigerians. Its launch took place on 25 October.
Similar interest was shown by 78,000 merchants from 160 countries. The volume of transactions at that time reached 62 million naira (~$150,000). According to The Block, within three months of operation this figure rose to 188 million naira (~$450,000).
In February 2021, the Bank of Nigeria ordered commercial banks to close the accounts of companies dealing with digital assets.
In late March, central bank spokesperson Adamu Lamtek said that the regulator had not prohibited local residents from buying and selling Bitcoin, and the measures applied only to financial institutions.
In December, Nigeria’s Minister of National Planning and Budget, Clem Agba called for clarity in cryptocurrency regulation.
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