The proposed digital currency by the Central Bank of Nigeria went live Monday attracting over a million hits in its first 24 hours even as its official launching is on October 1, 2021. The eNaira which is a digital currency issued by the apex bank is seen as the government’s efforts to be in the driving seat of the growing adoption of digital currency in the country and counter unregulated cryptocurrencies.
The Central Bank says that it is encouraged by the huge enthusiasm shown by people contrary to reports that the digital currency would attract such interests.
Customers will benefit the following from the website’s simplified financial transactions: sending money to one another using a linked bank account or credit card; ability to transfer money from their bank account to their eNaira wallet with ease; ability to monitor their eNaira wallet, check balances, and view transaction history; and ability to make in-store payments using their eNaira wallet by scanning QR codes. Customers will also be allowed to scan the QR Code on the website to get started.
Recently, the CBN Governor, Godwin Emefiele while speaking at a gathering of foreign investors in New York said the October 1 launch date will likely be rescheduled due to activities surrounding the country’s Independence Day celebration. Emefiele said the launch would be held on October 4, 2021.
The Central Bank announced the formal engagement of global fintech company, Bitt Inc., as its technical partner for the development of its digital currency.