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The Central Bank of Nigeria has finally launched its Digital Currency called eNaira

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Photo credit: Punch

The Central Bank of Nigeria has finally launched its Central Bank Digital Currency called eNaira on Monday.

According to a statement issued on the eNaira website, the organisers explained the overall function and benefit of the currency and its value to Nigeria’s economy.

The statement goes thus, “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.”

The currency which was formally scheduled to be launched on October 1, 2021, was later postponed as a result of activities billed for Nigeria’s 61st-anniversary celebrations.

According to a briefing on the website of the digital currency, eNairia, the Digital Currency has two applications – eNaira speed wallet and eNaira merchant wallet, which were launched on the Google Playstore and Apple Store on Monday.

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

Central Bank of Nigeria-issued Digital Currency Nigeria Punch eNaira


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