By John Ikani
President Muhammadu Buhari has launched Nigeria’s first digital currency known as the eNaira.
The launch which took place at the State House in Abuja comes weeks after an earlier plan to unveil the digital currency on October 1 was shelved.
Describing the launch as the first in Africa and one of the earliest around the world, Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele said 500 million eNaira ($1.21 million) has already been minted.
The CBDC’s digital currency app and its merchant wallet are now live and available for download.
The two apps, eNaira speed wallet and eNaira merchant wallet, are now available on Google playstore and Apple store.
A notice on the enaira website gives details into how the currency and the wallet will work.
“Get Ready With Your Accurate BVN Data For Your Hitch-Free Enrolment,” it says.
“To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.
“First Name, Last Name, Date of Birth, State of Origin, and Email.
“Your Banks are waiting to assist you in validating and updating your BVN details to ensure seamless enrolment to the eNaira Platform,” it says.
The eNaira is a culmination of several years of research work by the CBN in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every stratum of society.
The CBN stated earlier that the eNaira is meant to create a secure and cost-effective process for remittance inflow to the country, amongst other benefits.
The apex bank also stated that eNaira’s usability would definitely improve as Nigerians without internet-enabled phones would be able to transact without having to subscribe to data or having an internet-enabled phone.
The digital currency which was initally scheduled to be launched on October 1, was postponed by the CBN citing key activities lined up for the country’s 61st independence anniversary.
