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All you need to Know about e-Naira

On 25th of October 2021, President Muhammadu Buhari officially launch the Central Bank Digital Currency ( CBDCs) called eNaira. The journey to create a Digital Currency for the country started in 2017 as a result of global trend to create digital currencies.

It is believed that the emergence of eNaira I'm the country will impact individuals and sectors of our economy with the following great benefits:

Movement of people and businesses from informal into the formal sector.

eNaira will foster economic growth through better economy activities.

It will improve financial inclusion by making monetary policy more effective.

It will enable government to send direct payment to citizens eligible for welfare programs.

32 banks have been fully integrated into the platform.

90 days free of charges transactions with effect from 25 October 2021.

Electronic transfer of #5,000 and below will attract #10 charges; #5,001 - #50,000 attracts #25 charges while #50,000 and above will attract #50 charges only.

Phone number without NIN is limited to transact #20,000 daily with maximum account balance of #120,000.

Phone with NIN can transact from 50,000 - 1 million with account balance of #300,000 - 5 million according to their tier.

Merchant account have access to unlimited transactions.

eNaira application now available for downloading in different play stores.

Content created and supplied by: INFODEM (via Opera News )

Muhammadu Buhari e-Naira eNaira

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