The Central Bank of Nigeria on Monday, unveiled the Central Bank Digital Currency, eNaira.
The eNaira, which was earlier scheduled to unveiled on October 1, 2021, was shifted to a new date due to series of activities that overwhelmed the country’s 61st anniversary celebrations.
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The digital currency was launched with two applications – eNaira speed wallet and eNaira merchant wallet, which were both uploaded on Google Playstore and Apple Store on Monday.
A statement on the eNaira website which explaining the overall function of the currency and its value to Nigeria’s economy, read;
“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.”
With the launch of eNaira, Nigeria becomes the first African country to have a CBDC.
