AS the 2022 eNaira Hackathon Grand finale comes to a close on Thursday, August 18, the Central Bank of Nigeria (CBN) said the competition aims at solving six major financial problems in Nigeria.
On its website, CBN notes that eNaira will help facilitate international remittances and FX exchange, drive financial inclusion by understanding the target audience’s needs and help SMEs and startups to create innovative products or enhance their existing services.
In addition, the electronic currency will help facilitate cross-border trade and transfers, facilitate payment for lifestyle services, reduce the cost of inter-bank transfers, and achieve transparency and monitoring through programmable tokens.
CBN Governor Godwin Emefiele, while speaking at the Abuja event, said the Hackathon’s goal is to make the eNaira the African Gateway to Digital Economy.
Already 20 participants have reached the final stage, out of which ten winners will emerge.
“The top 10 teams will be rewarded with a cash prize in eNaira and enjoy other benefits/services provided by partners/services,” CBN said.
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