by - 12:51:00

After missing the first deadline, the Central Bank of Nigeria finally roll out the country digital currency called eNaira. The eNaira is just a digital representation of the normal Nigeria currency and should not be mistaken with cryptocurrencies in any form.

The CBN describe eNaira as “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. eNaira has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money.”

The eNaira promise to improve financial inclusion of many citizen of the country as less than 50% of the country citizens have a bank account. And many beneficiaries of the country social investment programmes are paid cash by agents of government. It is note a trade-able currency but it is primary aim to bridge the gap between the banked and the unbanked. It will also make payment easy and cheaper.

The eNiara launch on Monday, 25 October 2021, made Nigeria the first country to launch a digital version of its currency in Africa. Nigerians can download the app from the official website at https://enaira.gov.ng/download or from their application store.

Interested Nigerians must get their BVN information handy before proceeding with registration as they would be required to input their details exactly as captured during your BVN enrollment.

They information require are: First Name, Last Name, Date of Birth, State of Origin, and Email.

Once registration is completed, Nigerians can move money from their registered bank account and their eNaira wallet with charges for now.

Banks are working hard to assist in validating and updating BVN details to ensure seamless enrolment to the eNaira Platform.


NB: Remember Your BVN details is YOUR Personal Information and please do not download the app without ensuring it’s the official one from CBN. CBN do not have any eNaira agent for now.

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