Nigeria to Launch Its eNaira Digital Currency on Monday

The President of Nigeria, Muhammadu Buhari is scheduled to unveil the e-Naira on Monday, the Central Bank of Nigeria said on Saturday.

In a statement issued by a director of the apex bank in Nigeria; the Director of Corporate Communications – Osita Nwanisobi Said “President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja.”

“The launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every strata of the society,”

“Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and indeed, a cross section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.

“The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.

With the e-Naira, the CBN and the government plan to take on a number of challenges like narrowing the financial inclusion gap, making domestic and international payments easy and seamless, being able to carry on its welfare programs more easily, creating a safe and easy path for foreign remittances, etc”.

This statement is coming after the postponement of the initial date of the launch of the central bank digital currency.

The e-Naira was originally scheduled to launch on the 1st of October, to commemorate Nigeria’s 61st independence anniversary, but was postponed due to other significant activities that were lined up to commemorate the 61st Independence Anniversary, Osita Nwanisobi said.

Leave a Reply

Your email address will not be published.

Gain Instant Access Now

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Crypto Arena Africa will use the information you provide on this form to be in touch with you and to provide updates and marketing.