CBN Launches eNaira App, Merchant Wallet

The Central Bank of Nigeria has introduced its Central Bank Digital Currency; eNaira on Monday, 25th October.

The eNaira was initially supposed be introduced on October 1, 2021, but was postponed as a result of a lot of activities crafted for Nigeria’s 61st-anniversary celebrations.

The digital currency has two applications, namely; eNaira speed wallet and eNaira merchant wallet, which are both available on the Google Playstore and Apple Store.

According to a statement posted on the eNaira website, the general attribute of the currency is equivalent to its value to Nigeria’s economy.

The statement read, “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.”