The Central Bank of Nigeria published a five-year roadmap for its payments system 'Nigeria Payments System Vision 2025'.
Among its recommendations, the central bank said it would:
- consider the development of a regulatory framework for stablecoin offerings;
- continue its watching brief on initial coin offerings (ICOs) as well as working with the Security Exchange Commission to jointly develop a regulatory framework for an ICO-based investment solution;
- keep an active watching brief on blockchain solution for the Naira while collaborating with relevant stakeholders to identify resources to track and report on potential deployments of blockchain solution in other countries;
- engage with other central banks on potential joint venture to investigate and implement a central bank digital currency solution.