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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.
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Stored only when both papers are in the corpus — 8 citations exist upstream.
Papers that cite the same references — the relational fallback while embeddings are still backfilling.
Imported from OpenAlex (CC0) — nothing here is generated.