Nigeria’s Central Bank Digital Currency (CBDC) e-Naira is failing because of low adoption rates while the government is trying to drive adoption higher.

Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central bank said individuals and corporate organizations withdrawing amounts exceeding the new limits would be required to pay processing fees of 3% and 5% respectively.

A convenient medium of payment or a Trojan horse for Fascism?

The European Central Bank (ECB) has published its second report on the feasibility of launching a digital euro.

Credit institutions and payment service providers will manage services associated with a digital euro issued by the European Central Bank, according to the bank's latest progress report on a retail digital currency.

The listing of Sango, the Central African Republic's national cryptocurrency, has been delayed until the first quarter of 2023. 

The Bank of Japan has published the minutes of the fourth meeting of the Liaison Council for Central Bank Digital Currencies. In the following, we have extracted some key comments from the Liaison Council members, with regards to cost, pilot participation, technology and the financial intermediary function, and added our comments.

Sweden’s central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) — the e-krona — according to a Dec. 15 statement.

How Ready Are We For The Rise Of CBDCs? What Are The Alternatives?

This new form of ‘digital cash’ may pose the single greatest threat to personal liberty and freedom in our lifetime.