The Central Bank of Nigeria (CBN) is advancing the development of its central bank digital currency (CBDC), eNaira; however, the CBN is looking for help this time.

The Central Bank of Nigeria (CBN) is reportedly in talks with new “technology partners” to set up a new and better system for managing eNaira, as stated in a story published by Bloomberg on February 21.

According to people with direct knowledge of the situation, the Nigerian financial authority has reportedly discussed these intentions with the New York-based technology company R3.

The CBN will have full control over the effort thanks to new software to be developed for eNaria; however, the source who did not want to be named said that the information on this subject is private.

In 2021, with the help of financial software company Bitt, efforts began to establish a digital currency known as eNaira. According to the article, the new partner will not instantly take over Bitt’s role, but will assist in the sole responsibility phase of Nigeria’s central bank. This will take place over the course of many years.

Bitt has acknowledged, in a statement, that it is aware of the fact that CBN collaborates with a variety of partners on its technical advances. He stated that he continues to maintain a strong collaboration with CBN and that he is “actively developing more features and updates.”

Despite Nigeria being one of the first nations to introduce a CBDC, the country’s digital currency, eNaira, got off to a slow start and adoption was minimal. According to reports, only 0.5 percent of Nigerians use CBDC, leading some to conclude that the grandiose initiative has been “crippled.”

In January, a Nigerian entrepreneur became the first person in the country to create a Bitcoin Lightning operating node. Not long before that, the government made public its intention to develop a regulatory infrastructure for stablecoins as well as initial coin offerings (ICOs).

Nigeria is one of more than 90 nations around the world that is investigating the use of CBDC. Among the others are Russia and Japan, both of which are preparing to launch their own currencies before the summer. Additionally, the City of San Francisco is investigating the potential for the establishment of a CBDC system.

However, CBDCs face opposition from activists who refer to them as “surveillance tools.” This opposition is now being actively pursued.