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CBN: Nigeria’s eNaira Platform Goes Live

CBN: Nigeria’s eNaira Platform Goes Live

The official website of the upcoming Central Bank of Nigeria’s (CBN) digital currency; the enaira, has gone live, ahead of the October planned launch.

The website has already recorded over a million hits within 24 hours after going live.

According to information made available on the website, digital currency will ensure easier financial transactions for users of eNaira. It offers the opportunity for peer-to-peer payments which allow users to send money to one another through a linked bank account or card.

In addition, customers are allowed to scan the QR Code on the website to get started.

A statement on the website reads: “eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.

“eNaira has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money. There are several benefits from a central bank-issued digital currency in Nigeria, and this cuts across different sectors of, and concerns of the economy.”

CBN Governor, Mr. Godwin Emefiele, while speaking to a gathering of foreign investors in New York, recently, had told his audience that because of activities surrounding the country’s Independence celebration on October 1, the earlier planned launch of the eNaira on same date would likely be rescheduled to October 4, 2021.

“The central bank would not want the event to take the shine away from the Independence celebration,” he said.

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