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BANKING & FINANCECOVERNEWSLETTER

Other Counties Showing Interest In Nigeria’s eNaira – CBN

e-Naira Is Secure, Dependable, Says CBN

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has stated that all central banks across Africa and other parts of the world are trying to study Nigeria’s eNaira project.

Emefiele said this on Monday during an experience sharing tour of the CBN’s CBDC (eNaira) by the Bank of Uganda officials in Abuja.

Emefiele said, “We feel delighted on what we are doing in the area of the Central Bank Digital Currency, CBDC. What we are doing in the area of eNaira is attracting the interest of different countries in the world.”

He noted that the CBN had been receiving many inquiries from central banks in Africa and different parts of the world who were trying to understand what the bank was doing.

The eNaira is a central bank digital currency backed by law and issued by the CBN as a legal tender. It is the digital form of the Naira used as cash.

The bank plans to introduce payment of bills on the eNaira wallet and support DSTV renewals, recharge card purchases, and air travel ticket payments, among others, through the wallet.

According to the CBN governor, the eNaira project was also exciting the IMF and the World Bank, but he noted that the country was cautious to ensure that the gains recorded from the project were not eroded.

About Author

Boluwatife Oshadiya Lagos, Nigeria
Boluwatife Oshadiya is a graduate of Mass communication with a passion for content creation and digital marketing. He aspires to become a very well known and respected member of his field of study and can be reached via [email protected]

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