FG Launches eNaira, Mints N500m on Monday

The federal government, through the Central Bank of Nigeria (CBN) has launched eNaira, also known as the Central Bank Digital Currency (CBDC) with over N500 million of the digital currency minted so far.

According to the CBN Governor, Godwin Emefiele, thirty three (33) financial institutions have been integrated and live on the eNaira platform.

Speaking at the launch of the digital currency in Abuja on Monday, Emefiele disclosed that over 2.5 million people visit the website daily. The CBN Governor also said that another N200 million has been issued to financial institutions.

Meanwhile, Nyscinfo learnt that over two thousand (2,000) customers and one hundred and twenty (120) merchants have successfully registered on the eNaira platform.

After the launch of eNaira, the CBN Governor said:

“Customers who download eNaira Speed Wallet App will be able to perform the following: onboard and create their wallet; fund their eNaira wallet from their bank account; transfer eNaira from their wallet to another wallet and make payment for purchases at registered merchant locations.”

“CBN will continue to refine, fine-tune and upgrade the eNaira. Nigerians should expect to see additional functionalities in the coming months”.

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The additional functionalities shall include: accessibility and onboarding of customers without BVN and the use of the eNaira on the phone without the internet connection, this would make Nigeria one of the first countries in the world to use crypto currency (eNaira) via USSD on mobile phone.

According to CBN, another feature that will be deployed by the eNaira is the “onboarding of revenue collection agencies to increase and simplify collections and the creation of sector- specific tokens to support the Federal Government’s social programmes and distribution of targeted welfare schemes in a bid to lift millions out of poverty by 2025”.

=> Download eNaira mobile app!

Source: Nyscinfo

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Updated: October 25, 2021 — 6:10 pm

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