The central bank of Nigeria (CBN), has reportedly set October 1 as the commencement date for the trial phase of it's digital currency project, dubbed "Project Giant". This digital currency project or the "e-naira" is expected to use the hyper ledger fabric block chain.
The revelation of the launch date for Nigeria's central bank digital currency (CBDC) comes just few months after the central bank governor,  said the digital currency will soon come to life. It also comes after the CBN suggested in June that Nigeria would have it's own C DC by the end of the year. With this revelation when confirmed officially, Nigeria will become the second west African nation to announce the pilot phase of it's own digital currency in 2021.
As previously reported, the bank of Ghana is the other country from the region to announce a date for it's digital currency project. In the meantime, the report reveals some of the focus areas that stand to benefit from the roll out of the e-naira. Some of these areas include cross border trade, monetary policy, tax revenue collection and remittance inflows