The Central Bank of Nigeria (CBN) plans to begin its central bank digital currency (CBDC) pilot on October 1, according to Nigerian financial news publication Nairametrics.

According to Nairametrics private sources, Rakiya Mohammed, the bank’s director of information technology, called a webinar last Thursday to confirm the pilot’s start date and emphasise that the CBN could not afford to be left behind in global CBDC development.

The pilot scheme, known as...