The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reiterated that the introduction of e-Naira into Nigeria’s payment space will boost trade, investment and other economic activities in the country .

Emefiele yesterday made the assertion on innovation in the Nigerian payment system ecosystem, he said registering for the eNaira hackathon, focused on the idea of ​​innovative solutions for the newly launched digital currency, organized by Africa Fintech Foundry (an innovative hub created to identify and accelerate innovation startups in Africa), in partnership with the Central Bank of Nigeria (CBN), is scheduled to open on June 27, 2022 and run until July 21, 2022.

According to the organisers, the main event, which is scheduled to start on August 4, is part of efforts to boost financial inclusion, facilitate macroeconomic growth and integrate the Nigerian economy with major world economies through innovation and advanced emerging technologies. He therefore urged interested participants to come to the eNaira Hackathon to register from June 27, 2022.

With the theme: “eNaira – Africa’s gateway to a digital economy”, the hybrid hackathon will bring together teams of talented entrepreneurs, developers, designers, solution developers, problem solvers, ready-made thinkers and code wizards from Africa to develop innovative solutions that will drive better eNaira adoption.

Emefiele said, “We cannot deny the fact that the new CBDC (eNaira) would be needed in the future to ensure Nigeria’s competitiveness as the world becomes increasingly digital. We have seen in recent years how digital currencies have opened up international economies to the individuals who use them and how much they have facilitated trade, purchase, investment and other economic activities.

“We wish to achieve this goal and more with eNaira with the underlying aim of boosting Nigeria’s economic prospects. Hackathon innovators will develop solutions in the areas of international remittances, cross-border payments, blockchain, financial inclusion and commerce (AfCTFA),” he added.

The statement issued by the organizers indicates that the hackathon will address strategic points to eliminate possible problems that could hinder the smooth running of transactions with eNaira.

The innovators were asked to design an eNaira that will tackle blockchain and international remittances among other financial services.

To do so, registration for the Central Bank of Nigeria (CBN) eNaira Hackathon is expected to open on June 27 and run until July 21, 2022.

The hackathon will bring together individuals with innovative solutions for the newly launched digital currency.

The hybrid hackathon will bring together teams of talented entrepreneurs, developers, designers, solution developers, problem solvers, out-of-the-box thinkers and code wizards from Africa to develop innovative solutions that will drive a better adoption of eNaira.

A CBN statement yesterday in Abuja quoted CBN Governor Godwin Emefiele as saying that “we cannot deny the fact that the new CBDC (eNaira) will be needed in the future to ensure Nigeria’s competitiveness as the world is becoming more and more digital”.

“We have seen over the past few years how digital currencies have opened up international economies to the individuals who use them and how much they have facilitated trade, purchase, investment and other economic activities,” he said. he declared.

“The hackathon innovators will develop solutions in the areas of international remittances, cross-border payments, blockchain, financial inclusion and commerce (AfCTFA),” Emefiele said.

Emefiele added that the CBN’s desire is “to achieve this and more with eNaira with the underlying aim of boosting Nigeria’s economic prospects.”

The e-Naira hackathon is organized by Africa Fintech Foundry (an innovation hub created to identify and accelerate innovative startups in Africa), in partnership with the Central Bank of Nigeria (CBN).

Organizers said the main event, which is scheduled to kick off on August 4, 2022, “is part of efforts to foster financial inclusion, facilitate macroeconomic growth and integrate the Nigerian economy with major global economies through l innovation and cutting-edge emerging technologies”. .

He therefore urged interested participants to go to the eNaira Hackathon www.affcbnhack.com to register from June 27, 2022.

The organizers said that the hackathon will address the strategic points to eliminate possible problems that could hinder the smooth running of transactions with eNaira.