Nigeria’s central bank has formed a new task force to explore the adoption of stablecoins, raising questions over the future of the country’s digital currency, the eNaira. Central Bank of Nigeria (CBN) Governor Olayemi Cardoso announced the formation of the working group during a press briefing at the conclusion of the annual World Bank and International Monetary Fund (IMF) meetings in Washington, D.C. Cardoso said the Central Bank, in collaboration with the Ministry of Finance and other financial regula ...

Group 1 - Morocco's payment accounts reached 13.8 million with a transaction scale of $4.36 billion, and electronic payments increased from 23% to 26% [1] - The Central Bank of Morocco remains cautious about the promotion of digital currency, focusing on whether it can create actual use value rather than just technical capabilities [1] - International experiences are emphasized as crucial for anticipating changes and learning effective lessons in the context of digital currency [1] Group 2 - A total of 137 countries and currency unions are exploring digital currencies, covering 98% of the global economy, with 72 jurisdictions in advanced stages of development, testing, or launch [2] - Countries like the Bahamas, Jamaica, and Nigeria have achieved nationwide deployment of digital currencies, although Nigeria's eNaira has seen poor adoption with an active wallet usage rate below 1.5% [2] - The Central Bank of Morocco is conducting interoperability pilot projects with the Central Bank of Egypt, supported by the World Bank, to assess user reactions and detect technical flaws [2]