The Central Bank of Nigeria cites a 2020 Ripple Labs study, indicating that 85% of payments leaders from 22 countries expect CBDCs to be launched in their countries within the next four years.

By 2022, there were 100 CBDCs in the research or development stage, notably the launch of the Nigerian eNaira and the Bahamian Sand Dollar.

Despite inflationary concerns, Nigeria's young and tech-savvy population is actively accepting cryptocurrencies, ranking the country second in the Chainalysis 2023 Global Cryptocurrency Adoption Index.