The Central Bank of Nigeria (CBN) has developed the eNaira project, the country's digital currency to improve financial inclusion. It announced on July 22, 2021 that the start of the pilot phase of this project is for October 1, 2021.

The objective of this electronic money is to improve financial inclusion, simplify payments and facilitate cross-border trade. It will be an electronic currency complementary to the Naira, and which will be considered in the same way as crypto-currencies. With 32% of its population using cryptocurrencies (according to data from the Statista platform), the highest rate of any country in the world, Nigeria is one of the African states considering establishing a central bank digital currency. In addition to the West African giant, there are, among others, South Africa and Kenya, which have begun to study the subject, Ghana, which plans to start deploying an e-cedi from next September, and Morocco, whose the central bank has appointed a committee to identify and analyze the benefits and risks of a digital currency.