The website of the country’s digital currency, eNaira, is now live, ahead of the scheduled October 1 launch date.
The website is www.enaira.com.
According to the Central Bank of Nigeria (CBN), the eNaira would serve as both a medium of exchange and a store of value, offering better payment prospects in retail transactions, compared to The apex bank also explained that the 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,” it stated.
Information on the website says the “eNaira is a CB-issued digital currency that provides a unique form of money denominated in Naira.”
According to the CBN, the eNaira app would feature and reflect brand values centered around ease of use and efficiency while bearing in mind security.
“We have developed this App with a deeper understanding of customers, what they value, their abilities and also their limitations,” it stated.
The website explained that customers would be able to move money from their bank accounts to their eNaira wallets with ease; monitor their eNaira wallets, check balances and view transaction history; make in-store payment using their eNaira wallet by scanning QR codes; and send money to one another through a linked bank account or card.
It also stated that the eNaira was crafted with interesting elements for modern solutions that paid keen attention to details.
Further information on the website indicates other benefits of the Nigerian digital currency to include fast, cheap, reliable and available payment channel; supports digital economy; improved economic activities; and simplified and easy cross border payments and trade.
The eNaira would also ensure inclusion of excluded people in the financial system; improved effectiveness of monetary policies; ease in tax remittance and collection to support the country’s growth; and ease in targeted social interventions to support Nigerians.
Meanwhile, The Committee of e-business Industry Heads (CeBIH) has lauded the e-naira initiative and advised Nigerians to adopt it when it’s rolled out.
According to a statement by the group, the Chairman, Adeyemi Atanda, stated this at its third-quarter industry forum with the theme: ‘Digital currency and the prospects of central bank digital currency in Nigeria’, held in Abuja.
