Skip to main content

The democratization of digital currency in Nigeria: A sentiment analysis of eNaira app usability

 

Sunday Adewale Olaleye      
Kwami Ahiabenu   
 & Olugbenga Ayo Ojubanire 

Globally, Central Bank Digital Currency (CBDC) is receiving a lot of attention in digital currency deliberations since it is at the top of the agenda of almost every central bank today. Although there is a growing body of literature on CBDCs, user perspectives on their usage and adoption in the literature are very sparse. This study set out to analyze factors impacting the actual usage of CBDC through sentiment analysis of eNaira, the first CBDC to be issued in Africa by the Central Bank of Nigeria (CBN). The research relies on the 214 data points extracted from eNaira App users’ comments from Google Play and App Store from 2020 to 2021. It framed its analysis based on theories of moral sentiments and appraisal theory of emotion. This research shows that eNaira users faced multiple challenges; however, CBN's responses to these challenges are minimal. The results highlighted the need to include public sentiments in policy formulation; the Nigerian government's ban on cryptocurrency trading negatively impacted the uptake of the eNaira due to mistrust. This research study contributes theoretically to appraisal theory and the theory of moral sentiment by explaining the evolution and public sentiments towards adopting the novel eNaira in Nigeria.


https://www.tandfonline.com/doi/full/10.1080/20421338.2024.2353934

Comments

Post a Comment

Popular posts from this blog

Vincent Chukwuemeka Ike's The Potter's Wheel

Currently reading Chukwuemeka Ike's The Potter's Wheel very interesting paper pack written by a prolific Nigeria writer the story set during the second World War and the only means of modern entertainment was the The Mobile Cinema Van. the book is very rich is proverbs and a lot of wise words The main character is Obuechina Maduabuchi ( mouthful) who happened to be the only boy born to his parents Mama Obu( short form of Obuechina) and Papa Lazarus Maduabuchi among six older sisters. Due to the "value" placed on the male child, he become a totaly spoilt brat, though academically brilliam Obu was growing into a hopelessly spoilt child to reverse this trend, Papa Lazarus decided to send him away as a servant to a schoolmasster with a dragon of a wife Of course, Obu goes and comes back very different published by University Press PLC Ibadan Nigeria 1993 email address is unipress AT skannet.com.gh though first published by Harvill Press 1973 ISBN 9780302832 WORDS FROM TH...
4 comments
Read more

Evidence : Success of Connecting Citizens to Parliament Project by @penplusbytes

"The Committee on Government Assurances was established to play an oversight role of the Executive arm of government in Ghana. We were faced with the challenge of interacting effectively with citizens and getting their valuable feedback on project delivery statuses. You can understand our excitement when we started the Connecting Citizens to Parliament Project in partnership with Penplusbytes to implement an innovative mechanism of connecting citizens to Parliament, using new digital technologies including SMS, an online portal, a Mobile App and WhatsApp. Our work was more efficient as, for the first time ever, we had a dedicated website on which citizens could report on projects within their communities and reach out to us via an integrated media system about other governance issues that they had concerns with. The project also equipped our committee members with technology, information and knowledge management skills. We call on all stakeholders to support us, sustain the succes...
Post a Comment
Read more

African Media To Promote Geospatial Science

The United Nations Economic Commission for Africa (UNECA) has established a forum aimed at enhancing the capacity of the media in the promotion, advocacy and awareness-creation of Geospatial Information Science (GIS) on the African continent. Geospatial Information Science refers to the technology used for the measurement, analysis and visualisation of features or spatial phenomenon occurrences. For instance, in the mining and oil sector, resources on the earth's surface require sophisticated technology to discover, extract and manage and since mining and   drilling of oil require accurate knowledge of the earth's surface and subsurface.   Geospatial technology is best suited for the exploration and extraction of mineral deposits. Again, projects such as roads and waterways require geospatial technologies for planning, construction and implementation. According to the UNECA, GIS and related disciplines are now commonly found as the drivi...
Post a Comment
Read more