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Nigeria's Central Bank Enlists Gluwa Nigeria to Boost eNaira Systems

The Central Bank of Nigeria is working with blockchain technology firm Gluwa Nigeria to make the eNaira digital currency's systems more efficient and boost adoption in the country of more than 226 million people. The central bank plans to issue application programming interfaces (APIs) to Gluwa for integration with the company's Credal blockchain technology. APIs are software intermediaries that allow applications to talk to each other. Nigeria has been trying to broaden acceptance of the central bank digital currency (CBDC) since its launch in 2021. The country has a $220 billion informal economy that thrives on cash, and eNaira adoption has not caught up with cash use.

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