eNaira emergence has been on the mandates of the Central Bank of Nigeria, CBN, as it finally launched the official website for Nigeria’s Digital Currency.
The eNaira is called Central Bank Digital Currency, CBDC. As earlier reported on everyevery.ng, the federal government, through the apex bank, would launch the actual online money on October 1.
It stated that the eMoney would serve as a medium of exchange as well as a store of value, adding that customers would also utilised it for retail payments and remittances.
This message was contained in a recent release issued by the bank to journalists in Abuja, which further stated that the Nigerian Citizens could immediately begin exploring the website’s features by downloading the app, which also features bank account integration.
The apex bank has resolved to send documents to local banks on digital currency. This document contains details of the role of banks in the whole process.
The statement also pointed out that the asset would stand as a legal tender and have a non-interest-bearing status, adding that customer and value-based transactions’ limitations would be to the maximum.
eNaira to Boost Local/International Trade- CBN
It noted that eCurrency would boost financial inclusion and local and international trade, stressing that the website features a section that shows a list of available merchants.
“Though it is empty at the moment, among the other features are a unified payment system, an account management system, contactless payments, and complete peer-to-peer payments.” The statement read in parts.
