Buhari unveils the eNaira digital currency

Buhari unveils the eNaira digital currency

President Muhammadu Buhari presented the Central Bank Digital Currency (CBDC), also known as eNaira, on Monday, October 25.

At the Presidential Villa in Abuja, Buhari unveiled the country’s digital currency. Vice President Yemi Osibanjo, Governor of the Central Bank of Nigeria, Godwin Emefiele, Attorney General of the Federation Abubakar Malami, and others attended the ceremony.

The design of this digital currency was influenced by Nigeria’s banking community, Fintech operators, merchants, and a diverse range of other players.

Recall that the digital currency was billed to be unveiled on October 1 but was shifted due to activities on Independence Day. CBN noted that the launch of the digital currency is a major step forward in the evolution of money. The bank vowed to ensure that the eNaira, like the physical Naira, is accessible by everyone, particularly the unbanked as well as those living in the rural areas.

“The Nigerian Central Bank Digital Currency is among the first in the world and thus authorities have put measures in place to deal with any issues that might arise from the pilot implementation of the eNaira, whose theme is Same Naira, More Possibilities,” said Osita Nwanisobi, Director, Corporate Communication, Central Bank of Nigeria

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