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Nigeria Launches Its CBDC – eNaira

Published

4 years ago

October 25, 2021

After the long-awaited launch of the Central Bank of Nigeria’s digital currency or CBDC, His Excellency, President Muhammadu Buhari, the President of the Federal Republic of Nigeria, has officially launched the eNaira, which was initially announced to go live on the 1st of October 2021.

This took place today, 25th October 2021 at a Press Conference held at the Aso Rock Villa, FCT Abuja.

In a press release dated 23rd October, by the Central Bank of Nigeria, titled “President Buhari to Unveil eNaira on Monday, 25 October, 2021”, the CBN said the launch of the eNaira is a ‘culmination of several years of research work’ done by it in ‘advancing the boundaries of payments systems in order to make financial transactions easier and seamless for every strata of the society.’

eNaira, the Central Bank of Nigeria’s Digital Currency is Live

Breaking: e-Naira Launch Postponed

Will the eNaira fulfil its plans of financial inclusion? Will it compete favorably with other financial players? Will the CBN become a retail financial service provider?

The Nation awaits…

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Related Topics:CBDC CBN enaira Finance Nigeria

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Bobby Anyadike

Bobby is a media personality and academy lead at Earnathon. He is passionate about cryptocurrency and the blockchain technology, as well as the value it drives in the present global economy. He is a freelance writer, actor and voice over artist. He enjoys cooking, singing and networking.