After Bahamas, Central Bank of Nigeria becomes second to issue CBDC. Central Bank of Nigeria has named its CBDC as eNaira. Bahamas called it the Sand Dollar.
The eNaira uses blockchain platform and will coexist with physical cash. There is a digital wallet where eNaira will be stored and one can engage in transactions.
Benefits of CBDC:
- Fast, cheap, reliable and available payment channel.
- Support digital economy.
- Improved economic activities.
- Simplified and easy cross border payments and trade.
- Inclusion of excluded people in the financial system.
- Improved effectiveness of monetary policies.
- Ease in tax remittance and collection to support the Country’s growth.
- Ease in targeted social interventions to support Nigerians.
There are more details on the website.
IMF has 5 observations on Nigeria’s CBDC. Third and fourth observations are to do with risks:
Mostly Economics 
