Business

FG unveils eNaira Monday, says CBN

FG unveils eNaira Monday, says CBN

 

The much expected unveiling of the digital currency also known as the eNaira will take place on Monday, the Central Bank of Nigeria (CBN) has said.

CBN’s Director, Corporate Communications, Osita Nwanisobi, made this known in a statement on Saturday titled ‘President Buhari to unveil eNaira on Monday, 25 October 2021.’

Nwanisobi stated that 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 payment system in order to make financial transactions easier and seamless for every stratum of the society.

“Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and 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,” the statement said,

According to the DBN, the unveiling marked the first step in that journey, which would continue with a series of further modifications, capabilities and enhancements to the platforms.

The apex bank said that it would continue to work with relevant partners to ensure a seamless process that would benefit every user, particularly those in the rural areas and the unbanked population.

“Since the eNaira is a new product, and among the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the eNaira,” the CBN said.

The CBN stated that following Monday’s formal launch by the President, it would further engage various stakeholders as it entered a new age consistent with global financial advancement.

It stressed that the theme of the eNaira is ‘Same Naira, more possibilities,’ and that more details could be got on enaira.gov.ng.

Comment With Facebook

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.