• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, August 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Economist lauds IMF’s decision on global CBDC

IMF

The Matters Press by The Matters Press
June 24, 2023
Reading Time: 2 mins read
0
IMF’s reasons for Nigeria’s economic recovery

Lagos, June 24, 2023: An economist, Prof. Uche Uwaleke, has commended the International Monetary Fund (IMF) for working on a global Central Bank Digital Currency (CBDC) platform to enable transactions between countries.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

Uwaleke, a Professor of Finance and Capital market, Nasarawa State University, Keffi, made the commendation on Friday in Lagos.

He said the decision to come up with a concept of a global CBDC was a welcomed development.

IMF Managing Director, Kristalina Georgieva, had on June 19, in Morocco, said the organisation was working on a platform for CBDC to enable transactions between countries.

The IMF wanted Central banks to agree on a common regulatory platform that would create a vacuum that would likely be filled by cryptocurrencies.

A CBDC is a digital currency controlled by the Central Bank, while cryptocurrencies are nearly always decentralised.

Already, 114 central banks are in their final stages preparing to launch CBDC, with about 10 already successfully completed, and Nigeria’s enaira is one of those.

According to Uwaleke, a global CBDC will facilitate international transactions and interoperability faster than fragmented efforts by individual countries.

He said the concept would equally reduce the threat of private digital currencies such as bitcoin to Central Bank Digital Currencies.

“The major challenge that needs to be overcome to enhance interoperability is fragmented regulatory framework.

“A global CBDC will not replace the need for individual countries’ CBDC. Rather, it will complement it.

“While the former will be used to facilitate payments in foreign currencies, the latter can be used chiefly for transactions within a domestic economy,” he said.

Uwaleke, however, expressed dissatisfaction over the slow adoption of the enaira.

He said: “wide adoption of the enaira requires massive sensitisation and enlightenment campaigns.

“Many Nigerians still do not know about the eNaira and how it is used.”

The economist, therefore, called on the government to help by ensuring that a fraction of civil servants salaries were paid using eNaira, saying that would improve its adoption.

Tags: IMF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Nigeria has not taken decision yet on fuel subsidy

Subsidy removal will stop monopoly, open up new energy sources

Infrastructure gulp N2,7tn in Nigeria

S/Africa seeks to partner with Nigeria on PPPs for infrastructure development

Recommended Stories

Maritime sector critical to economic growth — Shippers

Maritime unions reject Ports, Harbour Bill

November 7, 2023
Nigeria gets AfDB’s $14m as member of ATI

AfDB, foundation spur entrepreneurship

March 26, 2019
Edo unveils plans for investment desks

Edun rates Nigeria next investment destination after China, India

October 11, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us