Exploring Cryptographic Requirements of eNaira as Nigeria’s Digital Currency

Saidu Isah Abubakar; Buhari Mamuda; Sadiq Shehu

doi:10.5281/zenodo.20735327

Abstract

The use of cryptographic algorithms in providing privacy and integrity of data to central bank digital currencies have been considered to be the most important infrastructure to be deployed by any nation as a requirement for safeguarding the system from cyber security attacks. This paper explores the goals of information security in relation to security of eNaira as Nigeria’s digital currency, the architectural infrastructures/designs needed to be embedded in the eNaira system, and cryptographic algorithms required to make eNaira system tamper-proof and protect users’ funds from double spending, counterfeiting and depend the eNaira system from security hreats and malicious attacks such as side-channel, denial of service, persistent network attacks such as botnets and DDoS, spoofing, social engineering, information disclosure, repudiation among others.

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