The IMF has listed the risks of using the digital currency of the Central Bank of Nigeria
However, local authorities are already taking active steps towards managing them
19.11.2021 - 10:40
756
1 min
0
.
What’s new? Jack Ree, an economist at the IMF African Department, stated that the state-owned digital currency eNaira carries risks for monetary policy implementation, cybersecurity, operational resilience, as well as financial integrity and stability.
What measures are the authorities taking? According to Ree, the Nigerian government is already taking active steps towards managing the aforementioned risks. For instance, the authorities have imposed daily transaction limits on the transfer of funds from bank deposits to eNaira wallets.
In addition, Nigeria uses a tiered identity verification system of users.
“For now only people with a bank verification number can open a wallet, but over time coverage will be expanded to people with registered SIM cards and to those with mobile phones but no ID numbers. The latter categories of holders would be subject to tighter limits,” the report says.
What had happened before? At the end of October, it was mentioned that the Federal High Court of Nigeria had approved the issue of the national digital currency. The country's central bank believes that the new tool “will make financial transactions easier and smoother for all segments of society.”
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$65 437
BTC
-3.17%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.21
XRP
-1.32%
-
Dogecoin
$0.092312
DOGE
-2.18%
-
TRON
$0.160134
TRX
-1.59%
-
Zcash
$616.3
ZEC
+0.3%
-
Cardano
$0.20326
ADA
-6.35%
-
Stellar XLM
$0.21311
XLM
-3.9%
-
Polkadot
$3.32
DOT
+5.27%