E-Naira: Nigeria’s digital currency website goes live ahead of October 1 official launch

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The e-naira website has now reportedly gone live ahead of the official launch of Nigeria’s digital currency, which is slated for October 1, 2021. From informations gathered about the e-naira on the website, the digital currency is issued by the Central Bank of Nigeria (CBN), and will be providing a unique form of money denominated in Naira.

The CBN also stated that the e-naira would perform normal functions of money, serving as both a store of value, and a medium of exchange. It’ll also offer a quicker and better payment option in transactions when compared to cash payments.

It is important to note that the e-naira has an exclusive operational structure, which essentially makes it look nothing like all other forms of central bank money.

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According to the CBN, the e-naira app was developed in a way that reflects brand values. That is, while it was made bearing security in mind, it also would be very easy to use and efficient.

Features of the E-Naira

The website explained better about the ease with which customers would be able to move their money back and forth from their bank account and their e-naira wallets. They would also be able to make in-store payments, check their balances, view transaction history, send money to users, and generally be on top of their eNaira wallet.

Recall that the CBN Governor, Godwin Emefiele, had disclosed in the recently held Monetary Policy Committee meeting, that the e-naira would be launched on October 1, 2021. He said by that day, any Nigerian should be able to download the e-naira app either on Google play store for Android users, or Apple App store for iPhone users. Funding can be done on their e-naira wallets, either via their bank accounts or with cash at any registered agent.

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Quite interesting to know that, that day is also the Independence Day of the country. Very thoughtful, we might say.

Meanwhile in other news, Central Bank of Chile is also planning to rollout its own digital currency early next year.

Source: Nigerian Punch

 

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