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Nigeria unveils her Digital Currency, eNaira

The President of The Federal Republic of Nigeria, Muhammadu Buhari on Monday, 25th, October, 2021 unveils the Nigeria’s central bank digital currency (CBDC) the eNaira.

The Official launch took place at the State House in Abuja.

The eNaira which was originally scheduled for launch on 1st of October but was delayed in deference to the 61st anniversary of Nigerian independence was designed to complement Nigeria’s physical currency, and not replace it.

The CBN had earlier stated that the eNaira wallet offers a great way of making purchases with retailers on-site, transferring or sending money while tracking rewards programs.

adding that the e-wallet can be linked to their bank account or pay as you go with a prepay option, and also a promise of an embedded security token system that makes information unreadable to fraudsters as tokens are randomly generated every time payment is being made.

The application softwares for using the CBDC is eNaira speed wallet and eNaira merchant wallet both of which are available for download from the Google and Apple app stores.

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

Abuja CBDC CBN Muhammadu Buhari Nigeria

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