The official web platform of Nigeria’s CBDC, eNaira, has gone live as the country’s Central Bank (CBN) prepares to launch the digital token on Friday.
Nigeria commemorates its independence day annually on October 1. eNaira’s launch has been lined up as part of the celebration for this year’s edition.
“We have all the approvals and mandates to launch on October 1, but it is important to understand that eNaira is not a one-off, it’s a journey that starts on October 1,” The Central Bank of Nigeria Governor Godwin Emefiele said at the last monetary policy committee meeting held on Sep. 18.
He added: “From October 1, a Nigerian will be able to download the eNaira app from either Google Play Store or App Store, fund their eNaira wallet using their bank accounts or with cash at a registered agent, location.”
According to reports from various local sources, the website became operational on Monday.
Newsbsc confirmed that the platform is indeed live but some elements like wallet creation and download feature are not functioning yet.
eNaira: Same Naira. More Possibilities
The eNaira is a universal digital token issued and regulated by the CBN.
It is designed to provide a secure, fast, easy, and cheap medium of exchange to Nigerians and other users in the diaspora.
The introduction of the digital token will boost economic growth, aid remittances and distribution of financial relief packages to households. As well as offer greater financial inclusion. Monitoring and tracing financial transactions will also become easier.