The Central Bank of Nigeria (CBN) says it plans to introduce digital currency to be accessible to all Nigerians before the end of the year.

The CBN Director of Information Technology, RAKIYA MOHAMMED, said this at the end of 306th Bankers’ Committee Meeting.

Admitting the risks associated with the proposed digital currency, the director assured that it will operate alongside other virtual currencies like the crypto currency.

She, however, cautioned that the CBN lacks control over other virtual or digital currencies as those transacting with such currencies are doing so strictly on personal basis.