Nigerian President Muhammadu Buhari announced on Monday (25) the launch of the digital currency eNaira, the first in Africa, which would be launched on October 1 this year, advances a specialized market news website.

"We have become the first Country in Africa and one of the first in the world to introduce a digital currency for our citizens," Buhari celebrated, quoted by the same website.

eNaira already has two applications available for download and was developed by Bitt, a fintech.

According to Godwin Emefiele, head of the Central Bank of Nigeria, the currency will enable cheaper and faster transactions.

Nigeria thus becomes one of the first countries in the world to invest in the proposal and the first in Africa to launch the digital version of its currency.

The eNaira is issued by the Central Bank and subject to the official exchange rate.

For experts, central banks around the world are looking to create digital versions that aim to compete with cryptocurrencies that are not tied to global regulators.

Central banks around the world are currently looking to create digital versions that aim to compete with cryptocurrencies that are not tied to global regulators.

Nigeria is the most populous country and has the highest GDP on the African continent. The government's bet is that the launch of the digital currency will allow the country's financial inclusion in international business to advance.