CBN introduces eNaira app, merchant wallet

CBN introduces eNaira app, merchant wallet

On Monday, the Central Bank of Nigeria (CBN) officially debuted its digital currency, dubbed eNaira.

The eNaira was supposed to go live on October 1, 2021, but it was postponed owing to a backlog of events planned for Nigeria’s 61st anniversary festivities.

The Digital Currency has two apps: eNaira fast wallet and eNaira merchant wallet, both of which were released on Monday on the Google Playstore and Apple Store.

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A statement on the eNaira website explained the overall function of the currency and its value to Nigeria’s economy.

The statement read, “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.

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